India better placed to face global challenges among world economies

New Delhi: Chief Economic Adviser V Anantha Nageswaran on Wednesday said amid global uncertainties caused by the ongoing Russia-Ukraine war, India is still better placed among the large economies because of an improved financial system and a robust corporate health.

India, he said, has already taken a host of reforms in banking and other sectors and is now focussing on stepping up public investment.

"Compared to other nations, even among advanced countries, I think India is relatively better placed for the simple reason that India paid a certain price last decade... we had a banking system stress which was then compounded by stress in the non-banking financial sector towards 2018," he said at Amazon Sambhav Summit. Besides, he said, Indian corporates are in good financial health as they have trimmed their balance sheet.