India likely to cross $4 trillion economy mark this fiscal: CEA Nageswaran

New Delhi, Nov 25 Chief Economic Advisor V. Anantha Nageswaran said on Tuesday that India’s economy is likely to cross the $4 trillion mark in the current financial year.

Speaking at the IVCA Green Returns Summit 2025, he explained that India, which is currently the world’s fifth-largest economy with a GDP of around $3.9 trillion, is already moving past the $4 trillion level as growth continues.

Nageswaran said strong economic growth is essential at a time when global geopolitics is in a “huge state of flux”.

According to him, a fast-growing economy gives India greater strength and influence on the world stage.

He also stressed that India must balance economic growth with its environmental commitments.

As the country works on energy transition, climate action, and greening the economy, these efforts must stay aligned with national priorities for both the short and medium term.

Nageswaran noted that India is fully aware of the risks posed by climate change, including its impact on agriculture, the environment, and coastal regions.

"So, whatever we do with respect to greening the economy, energy transition, environment, dealing with climate change and climate volatility have to be aligned with our priorities, both in the near term and the medium term," he said.

He reaffirmed that this is why India has pledged to achieve net-zero emissions by 2070.

“We’re committed to net zero by 2070, but the journey has to align with development priorities. Affordable energy access and lowering energy intensity will drive climate solutions. Innovation and startups are central to getting there,” he mentioned.

Meanwhile, earlier this month, Nageswaran has said that India must create nearly 8 million jobs annually over the next 10–15 years to capitalise on its demographic dividend which will only last until then.

While speaking at a webinar co‑hosted by Indian Council for Research on International Economic Relations (ICRIER) and Prosus at their Centre for Internet and Digital Economy, CEA Nageswaran highlighted that artificial intelligence (AI) should enhance rather than replace human work, particularly in healthcare and education.

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