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India grappling with 'unfavourable' factors in growth pursuit: CEA

By Business Standard - 5 months ago
As India tries to grow faster, the country needs to grapple with "unfavourable" factors like slowing globalisation, divisive world politics and the raging issue of climate change, Chief Economic Adviser V Anantha Nageswaran said on Friday. China, which grew at almost double digits between 1980 and 2015, did not have to contend with these factors during its high growth phase, Nageswaran said, addressing a Federation of Automobile Dealers Association (FADA) event here. "When India is now trying to grow, all these three factors have become unfavourable for India. Globalisation is slowing down, global politics is getting divided, and climate change is a raging topic," he said. Between 1980 and 2015, China was blessed with very strong globalisation, global politics not being as divisive and polarising, and the world not being as conflict-ridden, he said. Making it clear that India has "troubled relations" with China, the academic-turned-policymaker CEA asked the auto industry to reflect

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