India & Economic Vulnerabilities: EAC-PM Chairman
EAC-PM Chairman S Mahendra Dev emphasizes the need for India to map and monitor economic vulnerabilities, particularly in energy, food, and minerals, to mitigate the impact of future crises like the West Asia conflict. Dev predicts that India's GDP growth would be 6.7% and inflation 5% in FY27, assuming $95 per barrel of crude oil.
India must map and monitor key economic vulnerabilities, particularly in areas such as energy, food, fertilisers, metals, and critical minerals, to mitigate the impact of future crises. EAC-PM Chairman S Mahendra Dev stated that the ongoing West Asia conflict highlights the need for a forward-looking approach to risk management. Dev suggested strengthening physical buffers, including strategic petroleum reserves and stockpiles for essential commodities. He also emphasized reducing excessive dependence on imports through diversification of supply sources and trade routes. India's economy has displayed resilience in the face of global headwinds, with strong fundamentals such as a fiscal deficit of 4.4% of GDP and a debt-GDP ratio of 56%. Dev predicted that the current account deficit may increase in FY27 but can be managed.
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