Global headwinds strong but growth stable: RBI report

RBI attributes growth to domestic drivers, especially private consumption demand

- Anshika Kayastha

Global headwinds, including trade and policy uncertainties, continued to weigh on the Indian economy in the ongoing quarter, leading to foreign portfolio outflows.

However, economic growth has been resilient on the back of domestic policy and regulatory support, according to the Reserve Bank of India (RBI).

As such, global volatility and uncertainty eased slightly in November from their earlier elevated levels, with global economic activity expanding at a steady rate, the central bank said in its State of the Economy report, released as part of the December bulletin.