CEA V. Anantha Nageswaran: India To Benefit From China Plus One Strategy

Chief Economic Advisor Dr. V. Anantha Nageswaran highlighted how global disruptions, especially high tariffs imposed on China by the U.S., are opening doors for India’s manufacturing growth. Speaking at an event organised by Ashoka University, he said this situation is creating urgency for companies to shift base from China, giving India a "second wind." Lower crude oil prices, currently around $60 per barrel, are also benefiting India by reducing input costs and increasing fiscal space. He noted that Indian states can leverage their income levels to attract different kinds of investments—labour-intensive or capital-intensive—depending on their economic strengths.