India's potential GDP growth is in range of 6.5-7%, says CEA Nageswaran

India's potential GDP growth is estimated to be between 6.5% and 7%, a target that can be achieved based on the progress made over the past decade, according to Chief Economic Advisor, Mr. V. Anantha Nageswaran. Speaking at the IVCA's Green Returns Summit, he noted that the Economic Survey projects India's GDP growth for 2024-25 to be 6.5%-7%.

He highlighted that the country has made significant advancements in physical infrastructure and financial inclusion over the last ten years, which will support this growth. He emphasized the importance of strategic investments, particularly in addressing the challenges of renewable energy. He cautioned against solely focusing on establishing solar and wind energy plants, pointing out the rising costs associated with recycling solar panels and wind turbine waste. Instead, he suggested investing in grid capabilities and technologies that can manage the variability of renewable energy supplies. With 45 years remaining to achieve net-zero carbon emissions by 2070, he acknowledged the complex task of balancing strong economic growth with the need for environmental sustainability.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.