Shamika Ravi Asserts India Economic Stability Amid Global Shocks

Shamika Ravi, a member of the Economic Advisory Council to the Prime Minister, stated on March 26, 2026, that India's economic growth remains strong and stable despite ongoing global uncertainties. Speaking at a financial literacy event in New Delhi, Ravi noted that inflation has remained within the thresholds set by the Reserve Bank of India and asserted there is no reason for panic despite geopolitical upheavals such as the Russia-Ukraine War and developments in West Asia.

Ravi identified specific vulnerabilities to external shocks, particularly structural changes in consumption patterns and the high usage of LPG in both urban and rural markets. She emphasized that while India has managed various global shocks over the last decade, stability remains a priority.

Addressing the rise of retail investing, Ravi highlighted that equity market participation now exceeds 100 million people. She called for the expansion of financial literacy to help investors manage inherent risks, specifically advocating for tailored programs designed for senior citizens.