Stabilizing Rupee Heralds Optimism for India's Economic Future

S Mahendra Dev, Chairman of the EAC-PM, anticipates the Indian Rupee stabilizing at 92-93 against the US dollar amidst easing geopolitical tensions and strong macroeconomic fundamentals. He highlighted India's economic resilience, capacity for capital expenditure, and growth prospects, projecting a possible 7% growth by 2026-27.

The Indian Rupee is expected to stabilize at around 92-93 against the US dollar, according to S Mahendra Dev, Chairman of the Economic Advisory Council to the Prime Minister. He attributes this stabilization to easing geopolitical tensions and robust macroeconomic fundamentals that continue to attract foreign investments.

Dev discussed the recent pressures faced by the Rupee due to global uncertainties such as US-Iran conflicts and foreign institutional withdrawals. Despite these challenges, he assured that India's economic resilience and sound fiscal policies would mitigate external shocks.

Highlighting structural progress, including debt-to-GDP improvement and technological advancements, Dev portrayed a positive economic outlook for India. He is confident in achieving a growth rate of 6.9% to 7% by 2026-27, positioning India towards its 2047 development goals.

(With inputs from agencies.)