Pegging growth at an above-consensus 7% in FY26, Axis Bank’s Chief Economist Neelkanth Mishra finds support for the Indian economy in capital formation boosted by a capex cycle reboot, and tailwinds from back-ended fiscal spending in FY25, and the CRR cut and likely further macro-prudential easing helping revive credit growth. In the bank’s India Economic and Market Outlook 2025 report, Mishra and co-authors Prateek Ancha, Tanay Dalal, Pulkit Kapoor and Smriti Mehra highlight heightened global uncertainty in trade, elevated interest rates, slowing growth and deflation risks in China, and currency volatility. However, they believe the major drivers of India’s economy getting back to its trend growth rate of 7% remain local. Watch exclusive interview with Neelkanth Mishra, Chief Economist at Axis Bank & Head of Global Research at Axis Capital, as he shares insights with Siddharth Zarabi, Editor of Business Today.