India, however, appears to be performing relatively well, with an expected growth of 6.8–7.2 per cent in the next fiscal year, driven by the cumulative impact of reforms.
The year 2025 has been one of the most tumultuous for the world, as it broke the global order that had governed international relations for nearly eight decades and ushered in heightened uncertainty. Alliances appear to have lost meaning, and every country is increasingly forced to fend for itself, standing alone.
India, however, appears to be performing relatively well, with an expected growth of 6.8–7.2 per cent in the next fiscal year, driven by the cumulative impact of reforms.
According to the Economic Survey prepared by Chief Economic Adviser V. Anantha Nageswaran, growth remains robust and the outlook favourable. Inflation is contained, rainfall and agricultural prospects are supportive, external liabilities are low, banks are healthy, liquidity conditions are comfortable, credit growth is respectable, corporate balance sheets are strong, and the overall flow of funds to the commercial sector is robust.
However, the Survey rightly makes the projected economic growth of 7.5 per cent conditional on India strengthening manufacturing, exports and process reforms.
If India is to emerge as a global power, it must achieve self-sufficiency in strategic areas. These include fertilisers, oil, pulses, pharmaceutical ingredients, industrial chemicals, telecom equipment, magnets, battery cells, cathodes and solar wafers.
The country must also reduce its dependence on imported fossil fuels. The world’s most populous nation cannot rely on other countries to move its people. India therefore needs an energy revolution driven by green and clean power.
To achieve this, the country should prioritise both domestic growth maximisation and shock absorption, with greater emphasis on buffers, redundancy and liquidity. If Russia or China had depended on others for basic requirements, they could not have emerged as global powers.
Hence, the Economic Survey underscores that India must run a marathon and sprint simultaneously — or run a marathon as if it were a sprint.
