Driving commercial and political engagement between Asia, the Middle East and Europe
Driving commercial and political engagement between Asia, the Middle East and Europe
Driving commercial and political engagement between Asia, the Middle East and Europe
Just as India’s economy was beginning to show signs of recovery from the COVID-19 pandemic, the unfolding crisis in Ukraine has once again clouded the country’s economic outlook. Rising oil prices and the knock-on effect of financial sanctions targeting Russia have caused the World Bank to revise India’s GDP growth outlook downwards by 1.3 per cent for 2022, and have pushed inflation to a 17-month high of nearly seven per cent in March.
Despite the current geo-economic turbulence, India’s underlying economic fundamentals remain strong. Furthermore, the results of growth accelerating policies outlined in this year’s Union Budget, such as a boost in infrastructure spending and increased technological adoption within agriculture and industry, are unlikely to be felt until 2023. This has led the IMF to project India’s economic growth for 2023 at a robust 8.2 per cent. However, the persistent risks caused by rising inflation and ongoing geopolitical uncertainty will continue to pose challenges for policymakers.
To brief Corporate Members on India’s economic outlook and provide an update on its trade agenda, Asia House will welcome Dr V Anantha Nageswaran, Chief Economic Adviser to the Government of India, for a digital briefing on 30 May.
Having taken up the role of Chief Economic Adviser to the Government of India shortly before the 2022 Union Budget in February, Dr Nageswaran has been tasked with steering the Indian economy through the current period of tumult and delivering a sustainable and inclusive growth agenda. During this private briefing, Dr Nageswaran will also outline his plans for his new role, and consider how India can achieve its ambition of becoming a US$5 trillion economy by 2024-25.
Before taking up the role of Chief Economic Adviser to the Government of India, Dr Nageswaran taught at several universities and institutes of management in India and Singapore. He was the Dean of the Institute for Financial Management and Research (IFMR) Graduate School of Business in Tamil Nadu and the Indian School of Public Policy. Prior to his academic career Dr Nageswaran worked in the private sector for 17 years, where he was Currency Economist at the Union Bank of Switzerland, Head of Research and Investment Consulting in Credit Suisse Private Banking in Asia, Head of Asia Research and Global Chief Investment Officer at Bank Julius Baer.
This briefing is being convened for Asia House Corporate Members. Find out more about the benefits of Corporate Membership at Asia House.
To register interest, please contact Edward Danks, Programme Associate: edward.danks@asiahouse.co.uk
