Indian economy standing firm against geopolitical disruptions, says RBI expert

The Indian economy has shown strong resilience, withstanding significant global disruptions in recent years, including the Russia-Ukraine war, the Israel-Hamas conflict, rising crude oil prices and supply chain bottlenecks in the Red Sea caused by Houthi attacks. Reserve Bank of India Monetary Policy Committee member Mr Jayanth R. Varma highlighted that despite these global headwinds and a slowdown in major international economies, India remains well-equipped to manage future uncertainties. He expressed confidence in a favourable economic outlook, expecting inflation to gradually trend downward toward target levels while domestic growth remains robust. Factors like reduced commodity demand from China and restrictive global monetary policies have helped cushion against severe supply shocks. With projected GDP growth of 7.3%, India’s economy is outpacing global economic deceleration, showing that transient price spikes have not derailed long-term macroeconomic stability, according to a report.

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