In his first monetary policy statement, RBI Governor Sanjay Malhotra addresses the challenging global economic landscape. Despite some signs of resilience and trade expansion, the global economy is growing below average, and global disinflation is stalling due to persistent services price inflation. With the US dollar strengthening and bond yields rising, emerging market economies are facing capital outflows, currency depreciation, and tighter financial conditions. Geopolitical tensions and trade uncertainties are adding to financial market volatility, creating policy dilemmas for emerging markets. Governor Malhotra assures that the Indian economy remains strong but isn't immune to these global headwinds, as seen with the recent depreciation pressure on the Indian rupee. He emphasizes the Reserve Bank's commitment to using all available tools to tackle these multifaceted challenges.