India's Path to Viksit Bharat: Navigating Economic Challenges

India's GDP growth is forecasted to slow to 6.6% this fiscal year. Reforms in energy and food security are vital to reach the Viksit Bharat goal by 2047. Rising oil prices, currency volatility, and external economic shocks necessitate a comprehensive energy storage policy to strategically buffer these impacts.

India's economic growth is anticipated to decelerate to 6.6 percent in the current fiscal year according to the joint report, 'India Forward', by S&P Global and Crisil.

A comprehensive approach to energy storage is deemed crucial as the nation navigates external shocks from energy supply disruptions and volatile currency movements.

Crisil's Chief Economist, Dharmakirti Joshi, highlighted the importance of energy and food security amid the ongoing West Asia conflict, stressing the need for competitiveness to leverage new free trade agreements.