AMCHAM hosted a virtual pre-budget session featuring Mr. Michael Kugelman, Director of the South Asia Institute, Wilson Center in Washington, D.C., on January 30^th on ‘Mapping the Macros in India on the Eve of the Union Budget.’ Mr. Kugelman provided an in-depth analysis of India’s macroeconomic landscape within the context of South Asia, preceding the presentation of the Union Budget for 2025. He addressed various elements of India’s geopolitical and geoeconomic standing in the broader economic framework of South Asia. He identified significant economic challenges that the region faces, including a widening skills gap, low-income levels, and a rising unemployment rate, which he described as major barriers to progress for many South Asian countries. Additionally, he noted that insufficient cross-border infrastructure has hindered intra-regional trade, adversely affecting macroeconomic performance.

Mr. Kugelman emphasized two critical areas that Budget 2025 should focus on: firstly, implementing fiscal measures aimed at job creation; and secondly, enhancing investment in renewable energy to leverage its substantial macroeconomic benefits more creatively. The session was moderated by a member of AMCHAM’s Economic Affairs Committee, Ms. Deepa Kumar, Head of Asia-Pacific Country Risk, S&P Global Market Intelligence. She facilitated an engaging dialogue between Mr. Kugelman and members.