Speaking with Professor Mahesh Panchagnula, Dr. Nageswaran highlighted that the global economic order is entering a “20-year cycle of volatility,” driven by geopolitical fragmentation, supply chain disruptions, and increasing use of financial systems as strategic tools. He cautioned that corporations must transition from “just-in-time” efficiency models to “just-in-case” resilience frameworks, as nations increasingly prioritize security over globalization-driven efficiency.
On India’s position in the global economy, he emphasized that the country’s structural strengths are often underestimated. According to him, India is among a small group of nations capable of sustaining food self-sufficiency, advanced space capabilities, and domestic pharmaceutical production of essential medicines such as antibiotics and paracetamol.
Addressing concerns over artificial intelligence, Dr. Nageswaran argued that fears of large-scale job displacement are overstated. He suggested that AI will augment human productivity rather than replace labor entirely, while stressing the importance of mastering “prompt composition” and strengthening trade-related skills such as electrical work, plumbing, and mechanical maintenance, which remain less vulnerable to automation.
He further described the Indian economy as a “living laboratory,” citing its simultaneous pursuit of democracy, structural transformation, and rapid growth. He also pointed to the accelerating formalization of the economy, estimating that around 65 percent of economic activity is now formalized following reforms such as the Goods and Services Tax (GST).
Concluding his remarks, Dr. Nageswaran urged educational institutions to adopt interdisciplinary curricula that integrate engineering, economics, political science, and history to prepare students for an increasingly complex global environment.