New Delhi, January 22 (IANS). Amidst the ups and downs in the global economy, India’s GDP remains strong and it will remain the fastest growing economy in the world. This information was given by the Reserve Bank of India (RBI).
RBI said that the country has diversified exports rapidly in recent times to reduce external risks.
“The country is currently pursuing trade talks with 14 countries or groupings representing approximately 50 countries, including the European Union, the Gulf Cooperation Council countries and the United States,” the central bank said in a monthly bulletin.
RBI said in the bulletin that the first advance estimates for the financial year 2025-26 show that the country’s economy remains strong in a challenging global environment.
High-frequency indicators for December suggest a continued pickup in growth momentum, with demand conditions remaining positive.
“Inflation increased marginally in December, but remained below the target. Inflows of financial resources to the commercial sector have increased over the past year, contributed by both non-bank and bank sources,” the RBI report said.
In December, India concluded trade talks with New Zealand and Oman. The year 2025 also saw several important economic reforms, including rationalization of tax structures, implementation of the Labor Code for labor market reforms, and liberalization of the financial sector. All these are expected to strengthen the growth prospects.
The Reserve Bank of India’s ‘Report on Trend and Progress of Banking in India 2024-25’ stated that India’s banking system remains strong due to strong capital reserves, better asset quality and good profits.
“Going forward, a policy focussed on striking a balance between innovation and sustainability, consumer protection and a prudent approach to regulation and supervision will help enhance productivity and support long-term economic growth,” the RBI said.
–IANS
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