Indian markets are "quite deep", and the country’s macroeconomic fundamentals are “very strong", Reserve Bank of India Governor Sanjay Malhotra said on Wednesday.
Speaking at the IMF and World Bank Group’s annual meetings, the central bank chief said good indicators suggest “capacity utilisation is increasing.”
India is mostly domestic driven economy, while we are impacted by tariffs, but it is not a matter of huge concerns, he added.
Acknowledging global uncertainties, Malhotra said, “We are living in times of unprecedented uncertainties on account of various reasons, including policy uncertainties.” He noted that such conditions have been challenging for emerging market growth and added, “It is a risk that all EM economies must take into account.”
On the impact of inflation and global shocks, the RBI chief said that while inflation has been elevated, it has moderated significantly from the highs of 2022.
“India bounced back from Covid, the implications of Russia-Ukraine war; we have managed our inflation very well—from 8% to now 1.5%—the lowest in 8 years,” he said. He also noted that the CPI basket in India largely comprises of food inflation, which “becomes challenging for the fiscal committee.”
(More to come)
Speaking at the IMF and World Bank Group’s annual meetings, the central bank chief said good indicators suggest “capacity utilisation is increasing.”
India is mostly domestic driven economy, while we are impacted by tariffs, but it is not a matter of huge concerns, he added.
Acknowledging global uncertainties, Malhotra said, “We are living in times of unprecedented uncertainties on account of various reasons, including policy uncertainties.” He noted that such conditions have been challenging for emerging market growth and added, “It is a risk that all EM economies must take into account.”
On the impact of inflation and global shocks, the RBI chief said that while inflation has been elevated, it has moderated significantly from the highs of 2022.
“India bounced back from Covid, the implications of Russia-Ukraine war; we have managed our inflation very well—from 8% to now 1.5%—the lowest in 8 years,” he said. He also noted that the CPI basket in India largely comprises of food inflation, which “becomes challenging for the fiscal committee.”
(More to come)
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