New Delhi: Even as renewed geopolitical uncertainty has pushed crude oil prices past USD 107-108 per barrel and hardened global bond yields over the past week, V. Anantha Nageswaran, Chief Economic Adviser to the Government of India, told industry leaders at ASSOCHAM's Managing Committee Meeting and Special Session that "the Indian economy is more likely to be resilient rather than becoming more vulnerable," citing strong bank credit growth, robust GST collections and healthy corporate and banking sector balance sheets.
Nageswaran further added that while the resumption of hostilities in West Asia and rising interest rates across major economies, including a 10-year US Treasury yield of 5.02 per cent, had reintroduced volatility after a period of relative calm between March and July, India entered this phase of uncertainty from a position of strength.
