RBI Bulletin Highlights Indian Economic Resilience and Fleet Expansion Strategy

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The Reserve Bank of India’s latest bulletin highlights the strong resilience of the domestic economy, driven by robust domestic demand, rebounding monsoon activities, and rising manufacturing output. The central bank indicated that India’s core exports, such as smartphones, pharmaceuticals, and petroleum products, remain outside the scope of new 10% US tariffs, leaving the nation less vulnerable than other Asian economies like China and Vietnam. Meanwhile, to further protect the economy and curb a massive 75 billion USD foreign freight bill, Union Shipping Minister Sarbananda Sonowal announced ambitious plans to add 100 new merchant ships to India’s domestic fleet over the next five years. This initiative aims to strengthen national maritime tonnage, enhance seafarer training under the Maritime India Vision, and boost local manufacturing with support schemes that have already attracted orders from global carriers like Maersk.

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