Amid market jitters over the rupee’s dip to 91.94—shedding 0.12 paise Thursday—Chief Economic Adviser V. Anant Nageswaran delivered a steadying message. At the post-Economic Survey 2025-26 press conference in New Delhi, he attributed the currency’s slide against the dollar to synchronized pressures on emerging market currencies, driven by shared geopolitical tensions.
‘This is not an isolated phenomenon,’ Nageswaran told reporters. He pointed to resilient macro indicators and transformative reforms across government tiers in recent months. ‘Sustained export growth will bolster rupee sentiment,’ he forecasted.
While acknowledging uncontrollable short-term factors—like gold price surges inflating imports—he emphasized long-term anchors. A robust manufacturing push could lift GDP growth to 7.5-8%, topping the survey’s optimistic 7% average.
Nageswaran’s outlook invites investor patience: volatility reflects external mirrors, not internal cracks. As reforms take root and exports accelerate, expect a pivot in perceptions, heralding renewed confidence in India’s currency and economic prowess.