"The growth outlook remains resilient, supported by domestic drivers, despite uncertainties on the external front," it said in an article titled ‘State of the Economy’ in the bulletin.
"Domestic structural reforms are helping to somewhat offset the drag on growth from the weakening external demand conditions," it noted.
The flux presents considerable challenges to the global macroeconomic outlook and the Indian economy is not immune, the central bank said.
High US tariffs on India's exports do not pose a major concern for overall growth, the central bank noted.
Merchandise trade remains resilient, but a sharp decline in exports to the United states was witnessed in September as the higher tariffs kicked in, it added.
ALCHEMPro News Desk (DS)
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