India Resilient Amid Turbulence

"HIGH-FREQUENCY INDICATORS of aggregate demand for May also suggested a pick-up in rural demand, especially given the strong performance of the agricultural sector," the RBI said.

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"All of these indicate considerable resilience of the Indian economy, notwithstanding the global economic, trade, and geopolitical uncertainties."

However, the article, which doesn't necessarily reflect the RBI's opinion, cautioned that since June 13, uncertainty once again loomed large over the macroeconomic landscape in the wake of renewed geopolitical turbulence in West Asia. It was referring to the war between Israel and Iran—the two countries have agreed upon a ceasefire this week.