The Israeli conflict in Iran may not be good for India, as CEA Anantha Nageswaran warns

The chief economist against Annatha Nagsuran, adding that the decline in global growth may extend for several years, said that the ongoing conflict in Iran, Israel, may not be very good for India. However, the equality of the impact of the current situation with the 2008 global financial crisis has rejected.

“The current conflict between Israel and Iran may not be good for us. Last week, crude oil prices rose to about 73-74 US dollars a barrel … and this raises basic risks to India. But in 2022, when the Russia and Volcanic War began, crude oil prices exceeded $ 100 a barrel.

“A lot depends on the high crude oil prices to the period that the period takes … with regard to the definitions, you do not necessarily need to be against the interest of India. In the end, it is also important that the tariff for the competing countries in India is too late to say that the definitions will make our exports difficult at the present time.”

Nageswaran said it would be too early to say that the current situation can coincide with the impact of the 2008 global financial crisis. He said: “We may not have a significant decrease in growth as happened in 2009 worldwide … this time, it may be a slow -long event. To some extent, its average impact may be more than the global crisis for the year 2008, but it will spread over many years.”

CEA has confirmed the challenges in the global context, and clarify that economic and political conditions have become unfavorable. “Looking at these situations, the Indian economy maintained a good growth rate in 2024-25 at 6.5 percent. In 2025-26, we estimated that about 6.3 percent to 6.8 percent … he said.

He added: “The difference between the growth rate in India and the average growth rate of advanced economies is much higher than it was between 2003 and 2008, when we were growing 8-9 percent. To achieve 6.5 percent on a fixed basis in this environment, credit achievement. India is ready to maintain this busy record.”

“The current government has come out with important political measures in the last two budgets … If we can move faster and transfer a dynamic feeling, the opportunities are high so that we can improve our growth rate in the coming years,” he said to the news agency.

Nageswaran also said that the production -related incentive has achieved well and has a good self -reliance in many sectors. “From nothing to this day, we export between $ 10 to 15 billion dollars in mobile phones. We have created a local capacity in many areas of products related to renewable energy …”