In 2022, while the global economy was struggling amidst headwinds from slowing growth, higher inflation, and higher interest rates, India’s economy was resilient, and its growth was on a strong footing. Indian exports grew to ~$ 440 billion in 2022 driven by effective Free Trade Agreements (FTAs) and global value chain integration. Indian Equities outperformed almost all major global indices. Gross NPA of Indian Banks continued to decline and stood at a seven-year low of 5 percent in September 2022. These factors will drive India's growth trajectory during the 'Amrit Kaal'- a 25-year period wherein India will go from India@75 to India@100.

Source: Mint February 03, 2023 11:13 UTC