India’s Economy Strong Enough to Face External Shocks, RBI Says

India’s foreign exchange reserves and strong economic fundamentals will help cushion against external shocks and increased volatility in the global markets, the Reserve Bank of India said Monday.

The Middle East conflict and US investigation on its trade partners have revived concerns over energy security, tariffs and global supply chains, the central bank said in its State of the Economy report. A prolonged war would also further darken an already fragile global outlook.