India's economic troubles come mainly from outside, not within, says C. Rangarajan, former head of Economic Advisory Council to PM. At 18th annual doctoral thesis conference,he blamed international trade snags and West Asia tensions for hurting economy.
Despite rupee's recent dip,Rangarajan insists fundamentals are solid. He expects currency to stabilize once conflicts ease. Capital outflows,not structural issues,have caused recent swings.
To tackle these outside issues,Rangarajan suggests a three-part plan. Short term: boost diplomacy,diversify supply sources. Medium term: build reserves in energy,other critical areas. Long term: focus on selective import substitution,not full self-sufficiency, to grow domestic strength.
Rangarajan urges swift move to alternative,sustainable energy. says boosting India’s energy security with renewables,electric mobility can cut global disruption risks…
