HSBC economist says India needs stronger growth without policy support

21 Sept 2026, 12:35 am IST·1 source·Medium coverage confidence

In short

HSBC economist Pranjul Bhandari said India needs growth that can stay strong without help from policy. She also said goods exports may improve because the rupee has fallen since early 2025.

The summary says the rupee is down 24% against the euro, 20% against the pound, and about 15% in real trade-weighted terms. This could help exports, but it is not stated how much or for how long.

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Publisher's headline: “Need more structural growth that stays high without policy support: Pranjul Bhandari, Chief India Economist/Strategist, Asean Economist, HSBC”

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Evidence status Cross-reportedCoverage confidence MediumIndependent domains 1

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Sources used for this explanation: Economic Times Economy

What the reporting says

HSBC’s Pranjul Bhandari said India needs more structural growth that can stay high without policy support. The publisher summary says she expects goods exports to improve partly because the rupee has weakened, with depreciation since early 2025 of 24% against the euro, 20% against the pound, and about 15% in real trade-weighted terms. What remains unclear is how much export growth will follow and whether the currency move will last.

Why it matters

The reported event is an economic outlook from HSBC’s Pranjul Bhandari, who said India needs stronger structural growth and pointed to a weaker rupee as a support for manufactured exports. The summary gives specific depreciation figures against the euro, pound, and in real trade-weighted terms. The open question is whether this currency benefit will translate into sustained export gains.

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Economic Times EconomyRead the original ↗

HSBC economist says India needs stronger growth without policy support

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