Chief Economic Adviser V Anantha Nageswaran emphasized India's bond market must internationalize to attract foreign capital while avoiding over-reliance, mirroring equity market success. Speaking at IVCA Green Returns Summit 2025, he highlighted strategic competitiveness amid deglobalization, positioning India for $4tn GDP milestone this fiscal.
Strategic Imperative
Nageswaran stressed India's debt market globalization without dependency, noting 3,000+ annual import restrictions globally signal end of hyper-globalization era. World FDI/GDP fell from 5% to 1%; exports peaked. India must build resilient supply chains via SMEs, deregulation for manufacturing revival.
Growth Context
Economy nears $4tn (from $3.9tn FY25 end), driven by agriculture reforms unlocking 1% growth, TReDS invoices jumping 8x to Rs 1.4 lakh Cr. Private sector role critical in energy transition, avoiding China's dominance in solar/EV materials despite concentration risks.
Key Highlights
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Debt Goal: Globalize bonds like equities; avoid dependency.
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Global Shift: 5,000 restrictions/year; $1.3tn trade covered.
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GDP Milestone: $4tn FY26; 6.3-6.8% growth outlook.
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Agriculture Boost: Demand interventions for 1% incremental GDP.
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TReDS Surge: Invoices financed 8x in 4 years to Rs 1.4L Cr.
Sources: Business Standard, New Indian Express.