Indian eco resilient amid global turmoil, says Sebi chief

MUMBAI: India’s growth story, anchored in domestic consumption demand, strong govt investments and improving private sector participation, has helped the country stand out as a resilient economy at a time of global turmoil due to geopolitical uncertainties, Sebi chief Tuhin Kanta Pandey said.

“We are living in uncertain times. Ongoing geopolitical developments, including war in West Asia, continue to affect inflation, trade flows, exchange rates, and external balances. Many economies are navigating uneven recoveries. And yet, amid this uncertainty, India stands out for its resilience,” Pandey said. He was speaking at ICICI Securities’ India Investor Conference in the city.

“India remains one of the fastest-growing major economies, with growth estimated at 7.7% in FY26. However, due to the headwinds, there is some moderation in FY27 growth estimates (to 6.6%), and upside risks of higher current account deficit and inflation,” the Sebi chief said. Pandey said that India’s growth story was not just about economic expansion.

“It is about formalisation. It is about the financialisation of savings. And importantly, it is about trust in institutions.”
While interacting with media, Pandey declined to comment on the ongoing investigation relating to Rajesh Exports, saying the matter was subjudice. On June 3, Sebi banned Rajesh Mehta, the main promoter and chairman of the company, from trading in the company’s stocks, alleging it inflated revenues worth up to Rs 15.2 lakh crore over five years to FY25. The company has denied the charges.