The present experiment was conducted to evaluate the effect of elevated [CO2] with varying nutrient management on rice–rice production system. The experiment was conducted in the open field and inside open-top chambers (OTCs) of ambient [CO2] (≈390μmolL−1) and elevated [CO2] environment (25% above ambient) during wet and dry seasons in 2011–2013 at Kharagpur, India. The nutrient management included recommended doses of N, P, and K as chemical fertilizer (CF), integration of chemical and organic sources, and application of increased (25% higher) doses of CF. The higher [CO2] level in the OTC increased aboveground biomass but marginally decreased filled grains per panicle and grain yield of rice, compared to the ambient environment. However, crop root biomass was increased significantly under elevated [CO2]. With respect to nutrient management, increasing the dose of CF increased grain yield significantly in both seasons. At the recommended dose of nutrients, integrated nutrient management was comparable to CF in the wet season, but significantly inferior in the dry season, in its effect on growth and yield of rice. The [CO2] elevation in OTC led to a marginal increase in organic C and available P content of soil, but a decrease in available N content. It was concluded that increased doses of nutrients via integration of chemical and organic sources in the wet season and chemical sources alone in the dry season will minimize the adverse effect of future climate on rice production in subtropical India.