In a reassuring address, India’s Chief Economic Adviser V. Anant Nageswaran downplayed concerns over the rupee’s depreciation, framing it as a symptom shared by fellow emerging economies. During Thursday’s press briefing in the capital after the Economic Survey 2025-26 tabling, he linked the rupee’s 0.12-paise fall to 91.94 against the dollar to common geopolitical pressures battering currencies worldwide.
Nageswaran urged investors to look beyond the immediate dip. ‘Our economy’s core strengths—evident in steady fundamentals—will prompt a reevaluation of positions soon,’ he said. He spotlighted ongoing structural reforms at central and state levels, alongside robust export growth, as key drivers for future rupee resilience.
‘Short-term shocks may evade our grasp, but they don’t mirror our macro health,’ the advisor added. He projected that a bolstered manufacturing base could elevate growth to 7.5-8%, surpassing the survey’s 7%-plus forecast, thereby captivating global capital.
Factors like soaring gold prices have exacerbated import pressures, fueling the rupee’s slide in recent sessions. Yet, Nageswaran views this as transient. With India’s reform momentum and export surge, the narrative could shift, reinforcing the rupee’s appeal and underscoring the economy’s underlying vigor against a backdrop of global uncertainty.
