NEW YORK: Short-term fluctuations, including net FDI outflows and exchange rate movements, are cyclical in nature and are being closely monitored, RBI Governor Sanjay Malhotra said.
He was speaking at a round-table hosted by Consulate General of India in New York on Monday. A press release was issued the next day.
Malhotra highlighted the ongoing reforms to simplify regulatory frameworks, enhance ease of doing business, expand market access for foreign investors, and further integrate onshore and offshore markets.
The round-table was attended by over 100 representatives from financial institutions, investment firms and policy circles, including participants from banks, asset management firms, family offices, capital management firms, institutional investors, wealth managers, and other industry professionals.
During the session, RBI Chief General Manager Dimple Bhandia gave a presentation, highlighting the country's strong macroeconomic fundamentals, resilient financial sector, and consistent policy framework.
It emphasized India's position as the fastest-growing major economy and its trajectory to become the third-largest economy globally in the coming years.
The discussion highlighted key indicators such as low inflation within the target range, a manageable current account deficit of around 1. 1 per cent of GDP, robust foreign exchange reserves of USD 700 billion, the release added.