IN

India is currently in a late expansion liquidity regime, characterized by robust real GDP growth of 7.02% and a healthy Debt/Gold Z-score of approximately +1.8σ. The nation's energy dependency ratio remains a key risk, as imports account for a significant portion of GDP. However, the MOSPI reported data shows a consistent trend in capital expenditure that is now translating into higher productivity. The current account deficit is being managed via strong FX reserves of $650.0Bn, providing a buffer against external shocks. Integration into global supply chains and the potential for a central bank rate pivot from 6.50% could further accelerate domestic credit cycles. Watch for updates in the flow pulse for FII/DII positioning.