The economic slowdown is concentrated in advanced economies along the Asia-Pacific region, said Shaktikanta Das, Governor of the Reserve Bank of India at the annual session of the Confederation of Indian Industry2023. is expected to contribute around % to the global growth. According to the same estimate, India will contribute around % to the global growth in the current year. He said, amid global uncertainties, the Indian banking system remains stable and resilient with strong capital and liquidity positions, improving asset quality and improved profitability.