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India to face export shocks from global recession: BFSI economists' panel

While two of the eminent panelists - Ghosh and Nayar - said they expect a pause in the monetary cycle by the MPC, Chakraborty, Sagar, and Kapoor said the MPC could still hike by 25-50 basis points

(L-R) Soumya Kanti Ghosh, group chief economic adviser, SBI; Aditi nayar, chief economist, ICRA; Gaurav kapur, senior vice president and chief economist, Induslnd Bank; Samiran Chakraborty, chief economist, India, Citibank; Mridul Saggar, professor
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(From left) SBI Group Chief Economic Advisor Soumya Kanti Ghosh; ICRA Chief Economist Aditi Nayar; Induslnd Bank Chief Economist Gaurav Kapur; Citibank India Chief Economist Samiran Chakraborty; and Mridul Saggar, professor of practice, IIM Kozhikode, and former Reserve Bank of India executive director and Monetary Policy Committee member Photo: kamlesh pednekar

Shiva RajoraArup Roychoudhury
India has been relatively insulated from the severe headwinds in the West. However, with a third of the global economy expected to slip into recession in calendar year 2023, the impact will strongly be felt on India’s exports and trade economy, leading economists said in a panel discussion at the Business Standard BFSI Insight Summit in Mumbai on Wednesday.

The panel comprised former Reserve Bank of India executive director and former Monetary Policy Committee member Mridul Saggar, State Bank of India Chief Economic Advisor Soumya Kanti Ghosh, Citibank India Chief Economist Samiran Chakraborty, ICRA Chief Economist Aditi Nayar, and IndusInd