New Delhi, Sep 10
India's economy shows resilience despite global trade and fiscal uncertainty, supported by robust domestic consumption and government spending, a report said on Wednesday.
A report from SBI Capital Market indicated that the Indian markets remained resilient, though the aggressive tariff regime of the United States has become a significant issue globally.
"India remained surprisingly insulated in Q1, clocking an above-par GDP growth. There is recognition that, amidst global headwinds from high tariffs imposed on India, a domestic consumption stimulus is in order. The GST reform is a welcome step in this regard," the report said.
A US appeals court ruling had deemed the tariffs unconstitutional, escalating the issue to the Supreme Court. “Until clarity emerges, trade-policy volatility remains elevated, with key pressure points in autos, electronics, and textiles,” the report added.