External shocks, not domestic weaknesses, behind current economic challenges: Rangarajan
Former Economic Advisory Council chairman C. Rangarajan argues that India's current economic challenges are driven by external shocks rather than domestic policy failures. He suggests a strategy of diplomatic engagement and strategic import substitution to build long-term resilience.
Why it matters
This perspective provides insight into how emerging economies are navigating global supply chain disruptions and currency volatility.
Many of the difficulties confronting the country are the result of external or exogenous shocks like the international trade disruptions and tensions in West Asia, rather than domestic weaknesses, former chairman of Economic Advisory Council to the Prime Minister, and Chancellor of ICFAI Foundation for Higher Education, C. Rangarajan said on Monday.
The article reports on an expert's economic analysis without editorializing the validity of the claims.
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