India’s economy “strong, capable and healthy” despite global shocks, says RBI Governor

Mumbai: India’s economic condition remains “strong, capable and healthy” despite the impact of the West Asia conflict and global uncertainties, Reserve Bank of India Governor Sanjay Malhotra said on Friday.

Speaking at the post Monetary Policy Committee press conference, Malhotra noted that while the world is facing a global shock, India is better placed than many other nations. “There is a global shock and, in that, India is not alone. All countries are affected. However, as far as India’s economic condition is concerned, we are comparatively, as compared to other countries and similar shocks, today better placed,” he said.

The Governor pointed to India’s growth momentum as a key strength. “Our economic strength has increased. We are having Gross Domestic Product [GDP] growth of about 6.5% and no major country has this type of growth,” Malhotra added.

The remarks came as the RBI concluded its MPC meeting amid ongoing global volatility.