New Delhi, July 23: Amid global uncertainties, India remains among the fastest growing major economies across the globe and has been able to sustain the momentum in economic activities through June, and both industrial and services sector indicators remained firm in India, according to the Reserve Bank of India (RBI).
The farm sector is witnessing uneven southwest monsoon, but the impact on food inflation may be mitigated by comfortable foodgrain stocks.
“The momentum of external trade sustained as reflected in high growth in exports and imports in Q1 2026-27. This is likely to be strengthened by the recent operationalisation of the India-UK Comprehensive Economic and Trade Agreement and progress in other bilateral trade agreements,” according to the Central Bank’s July bulletin.
External vulnerability indicators also remained sound. Recovery of foreign investments in recent months shows a revival of confidence in the economy, it noted.
The global economy is dealing with uncertain economic environment, supply chain disruptions, and fragmented trading relationships.
However, the domestic economy has navigated the external uncertainties well, underpinned by healthy demand conditions and resilient performance of the industrial and services sector. (IANS)
RBI says India remains among fastest growing major economies despite global uncertainties
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