VIT founder and chancellor G. Viswanathan was honored with a lifetime achievement award by TiE Chennai at a function on Friday. | Photo credit: Special arrangement
Chief Economic Adviser V Anantha Nageswaran said on Friday that the current currency vulnerability stemmed largely from trade uncertainties that have affected capital flow, that a push to expand the export-oriented manufacturing sector should help stabilize the rupee.
To achieve this, he proposed a three-pronged strategy: import substitution, time-bound protectionism for Indian exporters linked to production and export performance, and investment in climate adaptation before focusing on reducing emissions.
“Being able to export in an increasingly self-centered world and being able to attract capital when capital itself can be withheld or used as a strategic weapon is not going to be easy. If we don’t adjust our exports and capital flows, the currency will be the victim. We saw that in 2025,” Mr Nageswaran said at the inauguration of Tie220 Chen.
V. Anantha Nageswaran, Chief Economic Adviser to the Government of India, addressed the inauguration of TiE con Chennai 2026 in Guindy on Friday. | Photo credit: B. VELANKANNI RAJ
India’s import substitution efforts between 1947 and the 1980s were fraught with protectionism that did not increase capability or production capacity but rather spread complacency. “So no protection forever, but protection in return for quid pro quo commitments on productivity and export performance will have to be the mantra for the next 25 years in a challenging world,” he noted.
“Let’s be clear: producing renewable energy requires a lot of energy in itself,” he said. Giving details, he said that producing one gigawatt of solar power required large amounts of silver, polysilicon and aluminum and a significant power input. Similarly, 2,866 tonnes of copper was required for wind power, for which at least 4,80,000 tonnes of ore needs to be handled, given that the copper yield was only 0.6%.
“We need to invest in climate adaptation before we focus on mitigation. That’s where public transport and demand management matters,” added Mr Nageswaran.
Manoj Kumar, CEO of Naandi Foundation and co-founder of ARAKU Coffee, shared his experience of establishing one of the largest certified organic and free trade cooperatives among the tribal people of the Araku Valley in Andhra Pradesh, once the hotbed of the Maoist movement. The valley has about 3,000 villages with about 1,00,000 families. The Naandi Foundation was trying to restore trust among the community while preserving their deep-rooted values, he said. Each tribal family now owned a coffee farm supplying the global ARAKU Coffee brand.
Murugavel Janakiraman, President, TiE Chennai, challenged the participating entrepreneurs, industry leaders, investors and ecosystem partners to incorporate technological advancements such as artificial intelligence into their operations.
Published – 14 Feb 2026 04:30 IST