V. Anantha Nageswaran

Stories

India's economic trajectory: From fifth to fourth largest economy

As of May 2026: Term extended through March 2027

India surpassed Japan in mid-2025 to become the world's fourth-largest economy. On February 1, 2026, Finance Minister Nirmala Sitharaman presented Union Budget 2026 (India's first major tax code rewrite since 1961), with ₹12.2 lakh crore for capital expenditure and ₹20,000 crore for carbon capture technologies.

Updated May 23

Notable Quotes

India has the potential to reach a 7.5% growth rate on account of improved manufacturing and land reforms. — Press conference following Economic Survey release, January 29, 2026

from India's economic trajectory: From fifth to fourth largest economy · Updated May 23

India stands out as a rare 'oasis of macro stability' at a time when the global economy is facing uncertainty, conflict and slowing growth. — Press conference following Economic Survey release, January 29, 2026

from India's economic trajectory: From fifth to fourth largest economy · Updated May 23

The cover of this Economic Survey symbolises our key message, the importance of manufacturing and exports for India's future growth in a highly fragmented and fractious global environment. — Press conference following Economic Survey release, January 29, 2026

from India's economic trajectory: From fifth to fourth largest economy · Updated May 23

India's potential growth rate has risen to 7 per cent, up from 6.5 per cent three years ago. — Press conference following Economic Survey release, January 29, 2026

from India's economic trajectory: From fifth to fourth largest economy · Updated May 23

The rupee's slide to the 92-per-dollar level does not reflect India's strong economic fundamentals. In other words, the rupee is punching below its weight. — Economic Survey 2025-26, January 29, 2026

from India's economic trajectory: From fifth to fourth largest economy · Updated May 23

India needs a manufacturing strategy focused on scale, competitiveness, innovation and deeper integration into global value chains. The sector requires a mission-oriented approach moving beyond the reliance on incentives. — Press conference following Economic Survey release, January 29, 2026

from India's economic trajectory: From fifth to fourth largest economy · Updated May 23