The Reserve Bank of India intervenes in foreign exchange markets solely to prevent excessive volatility while macroeconomic fundamentals remain strong, Governor Sanjay Malhotra says.
The International Monetary Fund has praised India's updated statistical methods and raised its growth forecast, reinforcing global confidence in the nation's economic momentum.
Addressing global business leaders, Prime Minister Narendra Modi pointed to robust macroeconomic indicators and structural reforms as pillars of India's steady rise.
The Monetary Policy Committee voted unanimously to lift rates, gambling that India's resilient growth can absorb higher borrowing costs as global pressures mount.
An unexpected boost from artificial intelligence and programming businesses helped GDP outpace predictions, even as a squeeze on household budgets and resources threatens the recovery.
