Nageswaran addressed roughly 3,000 bankers, economists and policymakers, saying India’s growth has stayed resilient despite geopolitical tensions. He warned that the 3.5‑4% goods trade deficit, even after stripping oil and gold, reflects a fragile supply chain that could falter if US‑India trade stalls. Energy prices, which have spiked by over 20% in the last year, threaten manufacturing costs, while the country’s lag in AI research and deployment could leave it behind China’s rapidly expanding tech ecosystem. The CEA stressed that boosting domestic manufacturing, simplifying tax law and safeguarding investor rights are essential, and called for AI‑enabled job creation in labour‑intensive sectors. These points will shape the next round of economic policy deliberations.