India's economy resilient despite global uncertainties: Top official
Secretary, Department of Economic Affairs, Anuradha Thakur on Tuesday highlighted India’s experience as a compelling example of how a strong macroeconomic foundation can support economic resilience and sustained growth amid global uncertainties.
In a special address on 'Financial Stability' on the second day of RBI’s SAMVAD 2026, Thakur said India’s fiscal trajectory has been credible and its flexible inflation targeting has anchored inflationary expectations.
“India faces the present challenging global scenario from a position of macroeconomic stability,” the finance ministry official added.
Setting the context for the panel discussion, RBI Deputy Governor Poonam Gupta noted that financial stability has emerged as a policy objective in its own right, and the policy lens has moved from individual institutions to the system as a whole, covering not only banks but also non-banks.
Panellists Ajay Seth, Chairman, IRDAI, Yangchen Tshogyel, Governor, Royal Monetary Authority of Bhutan, Athanasios Vamvakidis of the IMF and Paul Jackson of Invesco noted that there was a need to stay alert as crises were now coming quicker and were more intense.
They said lessons from past crises regarding the ill effects of financial reengineering should not be forgotten even as innovation in the financial sector is encouraged, while risks posed by climate change, the increasing role of non-bank financial intermediaries and fintechs, and the present non-collaborative phase of geopolitics should be adequately factored in.
Gaps in data sharing and concerns arising out of increasing use of AI agents should be addressed and care taken to build resilience not only in balance sheets of banks but also in those of corporates and households, the panellists added.
Samvad 2026 -- an international seminar for central banks -- was inaugurated by RBI Governor Sanjay Malhotra on Monday, delivering the welcome address and Union Finance and Corporate Affairs Minister Nirmala Sitharaman gave the keynote address.
The two-day event brings together Central Bank Governors, senior policymakers, representatives from international organisations and subject matter experts from across the world to discuss emerging challenges and opportunities facing the global financial system.
