Policy stability, infra push, demographics to drive India's growth: RBI Governor

Policy continuity and stability, financial stability, fiscal prudence and efficiency, thrust on infrastructure, renewed focus on manufacturing, demographic dividend, innovation, continued focus on Ease of Doing Business and reforms, digitalisation are among factors that will push India's growth trajectory over the medium to long-term, RBI Governor Sanjay Mahlhotra said.

- TBG NETWORK

He made these remarks during his keynote address at the US-India Economic Forum, organised by the Confederation of Indian Industry (CII) and the US-India Strategic Partnership Forum (USISPF), in Washington DC, earlier this week. The transcript of his address has been published on the RBI website on Sunday afternoon.

The RBI Governor touched upon India's economic growth scenario in his initial remarks, before explaining the growth factors that he believes will further enhance India's growth.

He said that the Indian economy has demonstrated remarkable resilience and dynamism.

Over the past four years (2021-22 to 2024-25), it has recorded an average annual growth rate of 8.2 per cent.

"It was and continues to be the fastest-growing major economy in the world," the central bank chief. "This is a significant step up from the average growth rate of 6.6 per cent in the preceding decade (2010 to 2019)."

"Even this year, our growth is expected to remain robust at 6.5 per cent."