New world order demands export competitiveness, manufacturing strength: CEA Anantha Nageswaran

Reading the Economy Beyond the Headlines: V. Anantha Nageswaran, Chief Economic Advisor to the Government of India, Speaking at Inauguration of TiE con Chennai 2026 in Guindy on Friday. | Photo Credit: VELANKANNI RAJ B

In a global economic order that is characterised by fragmentation and protectionism, it is critical for India to evolve as a central player driven by export strength and manufacturing-led growth, according to V Anantha Nageswaran, Chief Economic Advisor (CEA) to the Government of India.  

Nageswaran was speaking at the TiECON, an annual entrepreneurship conference hosted by The Indus Entrepreneurs (TiE - Chennai Chapter) here on Friday.

He said that the nature of the global system has changed, with trade no longer being reciprocal and supply chains being used as instruments of state power. 

“In that case, we need to have buffers. Emerging markets like India will still be required to import, and to pay for imports, we have to export and attract capital. It has to be a combination of the two. Both the public and the private sector have a huge responsibility to execute this huge challenge,” he said.

Attributing the recent currency depreciation to scare capital flows driven by trade uncertainty, he added that if exports and capital flows become problematic, the cash value will be currency. 

In order to improve export competitiveness, Nageswaran suggests that import protections given to the industry should not be in perpetuity but in return for reciprocal obligations on productivity and export performance including investment in quality, R&D and innovation. 

Moreover, he believes that the key to being strategically resilient lies in manufacturing strength. He said that services alone cannot sustain long-term strength and manufacturing is essential for export competitiveness and resilience.

In terms of policy, he urged for an ‘entrepreneurial bureaucracy’ which rather than extraction promotes faster  deregulation to cut compliance burdens, enable experimentation, and lower business costs to boost competitiveness and manufacturing growth.

The event also saw the presence of Manoj Kumar, CEO Naandi Foundation and Co-FOunder ARAKU Coffee, Amar Agarwal, Chairman & MD, Dr Agarwal’s Eye Hospital and Eye Research Centre and Shashi Kumar, Founder and CEO, Caregiver Saathi. 

Published on February 13, 2026