Despite the geopolitical uncertainties, India's economy shows resilience. Although inflation increased in September 2024, the projected annual rate of 4.4% is lower than the last year's 5.6%. This expected lower price level, along with the festive season, is expected to boost consumption in Q4 2024. However, rising oil prices are a major concern, as India relies on imports for about 88% of its oil needs, risking imported inflation.
India's economy demonstrates resilience, supported by robust domestic demand and government reforms aimed at enhancing investment. However, challenges such as increasing oil prices and high youth unemployment remain pressing issues. Continued efforts to expand trade and attract foreign investment are key to sustaining growth.
