Charting New Frontiers: India's Resilient Economic Journey

RBI Governor Sanjay Malhotra lauds India's economic resilience and growth amidst challenges. Speaking at the FIBAC conference, he highlighted India's robust fundamentals, strong recovery post-Covid, and potential to become the world’s third-largest economy. He emphasized prudent policies, stable external sector, and balanced regulation as key to sustained progress.

Indian economy has demonstrated commendable progress in recent years, a point emphasized by Reserve Bank of India Governor Sanjay Malhotra during the annual FIBAC conference, co-hosted by FICCI and the Indian Banks' Association. Addressing challenges head-on, Malhotra underscored the nation's robust economic fundamentals.

Governor Malhotra praised the post-pandemic recovery, with the economy achieving a striking compound annual growth rate (CAGR) of nearly 8% over four years. His confidence is bolstered by the International Monetary Fund's forecast, which places India among the fastest-growing major economies globally, on track to becoming the third largest in the coming years.

Malhotra highlighted India's external sector stability, underlined by a sustainable current account deficit and booming service exports. He attributed these accomplishments to prudent policy and structural reforms, advocating a balance between safety and growth in regulatory practices to ensure continuous economic momentum.

(With inputs from agencies.)