In the same session, the CEA, Dr V Anantha Nageswaran, also highlighted that India is among the fastest growing fintech markets. While it was pegged at a market size of $31 billion in 2021, it is slated to reach $1 trillion by 2030, he revealed.
Nageswaran further said that unlike fiat money, crypto currencies cannot satisfy basic requirements such as having store value, widespread acceptability and unit of account.
Nageswaran added that growth inflation challenges are universal. Despite that, India is in a much better place in terms of inflation as compared to other countries, he said.
Speaking at the AIMA conclave today, the CEA added that emphasis on capital expenditure, and a robust corporate balance sheet will enable India to overcome uncertainty.