India's Economic Growth Surges Amid Global Fragility

India's economic resilience is driven by strong domestic demand despite global uncertainties. The Economic Survey projects growth around 7%, with reforms and stability bolstering medium-term strength. Policymakers remain cautious of global risks that could affect the optimistic outlook.

India's economy continues to demonstrate resilience, largely fueled by robust domestic demand, as highlighted in the Economic Survey presented in Parliament on Thursday. The survey takes an optimistic stance, estimating potential growth at 7% and forecasting GDP growth between 6.8% and 7.2% by FY27.

While global economic conditions are marked by uncertainty, the survey underscores India's positive outlook compared to many global counterparts. However, it warns that global shocks, though currently insulated, could eventually impact the economy, necessitating vigilant policymaking.

Domestic demand, particularly in urban regions, remains a pivotal driver of growth, boosted by tax rationalization measures. Despite elevated risks from geopolitical tensions and global economic volatility, the survey upholds optimism based on India's stable external indicators and ongoing reforms.

(With inputs from agencies.)