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According to Nagesh Kumar, a member of the Reserve Bank of India (RBI) Monetary Policy Committee, the Indian economy is set for robust growth, with an expected rate of over 6.5% for the current financial year. In a recent interview, Kumar highlighted the country’s economic resilience, driven by strong domestic consumption and investment.
Despite global pressures such as high inflation and economic slowdowns in industrialized nations, India’s growth momentum is projected to continue. Kumar suggests that it could strengthen further to 7-7.5% in the coming years, with projections from the Reserve Bank of India supporting this optimistic outlook.
In terms of international trade, Kumar discussed India’s proposed Bilateral Trade Agreement with the United States. The goal is to gain access to the American market, particularly in labor-intensive sectors. Ongoing negotiations center around tariff adjustments and potential mutual benefits.
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According to Nagesh Kumar, what is the projected growth rate for India's economy in the coming years?
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