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How India’s economy weathered West Asia shock

13 0
saturday

At the start of 2026, the global economy faced its deepest and most perilous disruption in a generation. Yet, India stood as a defiant beacon of stability under the visionary leadership of Prime Minister Narendra Modi. At a time when the global economy is faltering, Modi has not only ensured that India remains the world’s fastest-growing major economy with a GDP growth of 7.7 per cent, but has also positioned the country as a pivotal anchor of the global system.

This was the result of strategic policies implemented under the Modi government, which spent a decade building defensive buffers. It focused on accumulating foreign exchange reserves, providing the RBI with ammunition to stabilise the currency. It had also diversified its crude oil procurement channels, which helped lower its absolute dependence on West Asian supply routes.

The strategic vision extended into domestic infrastructure. From the outset, the Prime Minister prioritised developing piped natural gas infrastructure across Tier-I and Tier-II cities to secure energy supply and shield citizens from cooking-gas shortages. Now, this network is scaling into rural areas. Initiatives like the PM Surya Ghar Yojana, clean nuclear energy developments, and ethanol-blended petrol........

© Indian Express