The newly appointed governor of India's central bank stated that with strong Consumer and business confidence, the economy may recover next year. This is the first time he has discussed the economic growth outlook since taking office earlier this month. Sanjay Malhotra, the governor of India's central bank, wrote in the preface of the semi-annual financial stability report released on Monday, "After a slowdown in economic activity in the first half of the 2024-25 fiscal year, the outlook for India's economy is expected to improve." He added, "Consumer and business confidence in the coming year remains strong, and as businesses enter 2025 with solid balance sheets and high profitability, the investment outlook is even brighter."