New Delhi, Feb 26 (IANS) India’s economic resilience and growth potential are attracting global investors, according to a note by experts at DBS Group Research. Despite facing challenges like the Covid pandemic and energy shocks, India’s economy is on a steady path towards recovery and expansion.
The domestic infrastructure in India has vastly improved, along with social welfare initiatives and a rise in consumer confidence. External balances are also stabilizing, with services surplus offsetting most of the trade deficit.
The report highlighted that India managed to navigate through economic shocks by adapting strategies like buying crude oil from Russia and exporting it in refined form. With projected growth rates, India is expected to recover the ground lost during the pandemic by 2026.
In order to sustain and enhance economic growth, the report emphasized the need for India to reduce trade barriers and integrate into regional supply chains. Regional cooperation and openness to trade are essential for India to achieve long-term prosperity.
Overall, the experts at DBS Group Research remain optimistic about India’s economic outlook, with a projected real GDP growth of 5.5-6.5% in the near future without the need for additional monetary or fiscal easing measures. India’s strategic position and reform initiatives are positioning the country as a favorable destination for global investment.
–IANS
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