India to be a connector country: RBI
MUMBAI: Amid
global trade realignments
and industrial policy shifts, India is increasingly positioned to function as a "
connector country
" that can become a key intermediary in sectors such as technology, digital services and pharmaceuticals, said RBI's latest bulletin on Wednesday.
In this scenario, the recent completion of
free trade agreement with UK
points to a strengthening of bilateral trade linkages, said an article on the 'State of the Economy' published in May Bulletin. "Going forward, notwithstanding the daunting challenges in horizon, India stands well-positioned to navigate ongoing global headwinds with confidence, ready to harness emerging opportunities and consolidate its role as a key driver of global growth.".
It said persistent trade frictions, heightened policy uncertainty, and weak consumer sentiment continue to create headwinds for global growth. Amid these challenges, the Indian economy exhibited resilience, the article said.
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