Upasana Chachra On India’s Growth Outlook, Inflation Trends & Policy Moves | Morgan Stanley Insights

India’s economy continues to defy global slowdown trends, clocking a robust 7.4% growth in Q4FY25—making it the fastest-growing major economy in the world. In this conversation, Siddharth Zarabi, Group Editor, Business Today, speaks with Upasana Chachra, India Chief Economist at Morgan Stanley, to unpack the country’s economic trajectory, inflation dynamics, and policy outlook.

This discussion follows the Morgan Stanley India Investment Forum 2025, held in Mumbai on June 3, where global investors converged to decode India’s macro story. Upasana breaks down Morgan Stanley’s strong GDP forecast—driven by resilient domestic demand, strong rural consumption, and record government capex spending.

She also explains why inflation is expected to average around 4% over the next two years, aided by lower food prices and a forecast of an above-normal monsoon. With the RBI’s key rate decision scheduled for June 6, she outlines the expected easing cycle and its impact on growth and liquidity.