Chief Economic Advisor V Anantha Nageswaran said that the Indian economy will USD 3.5 trillion at today's exchange rates by the end of the fiscal year 2022–2023 and is projected to grow to USD 7 trillion during the next seven years.

India's government had predicted that its GDP will reach $5 trillion by 2025. Nageswaran virtually said that the ongoing confrontation between Russia and Ukraine, which will "cause geo-political and geo-economic concerns," began the calendar year 2023 in his remarks at a recent MCCI event.

The other significant factor is China's opening up following the pandemic's two-year duration and its effects on the global economy, particularly on falling oil and commodity prices as well as the expansion of the developed economies in the US and Europe.

He said that at the end of 2022–2023, India's GDP, at current exchange rates, will reach USD 3.5 trillion. According to Nageswaran, it is not difficult for the Indian economy to reach USD 7 trillion in the following seven years. 

The US is anticipated to cut interest rates in 2024 or 2025, which will have an effect on the Indian rupee, according to the CEA, which also stated that this is the most crucial concern. According to estimates from the National Statistical Office, the country's economy will increase by 7.0% in real terms and 15.4% in nominal terms in 2022–2023.

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