Washington, Oct 15
India has recorded phenomenal growth with over 8 per cent projections in the past year amid unprecedented global uncertainties, RBI Governor Sanjay Malhotra said at the International Monetary Fund’s (IMF) annual meeting on Wednesday.
In his address, the RBI Governor highlighted that India is mostly a domestic-driven economy and "while tariffs have an adverse impact, it is not a matter of huge concern".
Malhotra also highlighted that while the dollar depreciated by 10 per cent, the Indian rupee has not depreciated so much this year, while most other currencies have. "This is because of larger tariffs and capital outflows. An orderly movement of the rupee is a priority for India," he said.
He further stated that the capital markets in India are quite deep and robust.