Recession may be catching.

"India is likely to be the fastest-growing Asian economy in 2022-23, according to analysts at Morgan Stanley. They expect India's gross domestic product growth to average 7 percent during this during this period - the strongest among the largest economies - and contributing 28 percent and 22 percent to Asian and global growth." BS. "The country has become the fifth biggest economy during the last three months of 2021, pushing the United Kingdom to the sixth spot, with the country grappling with a harsh shock of high cost of living." News18. "As per a Bloomberg report, the size of the Indian economy with regards to 'nominal' cash was $854.7 billion during the quarter through March. On the contrary, the same for the UK was $814 billion." India may be zooming like a rocket but it is still a part of the world, so if the global economy falls sick we are bound to feel its drag. "The world economies may fall into a global recession next year amid aggressive monetary policy tightening by central banks to tame inflation, the World Bank said." "Aside from recession, a string of financial crises in emerging markets and developing economies is also likely to do them 'lasting harm', the report said." FE. "India's overall exports, both merchandise and services, in August 2022 rose 6.75 percent year-on-year to $57.47 billion." News18. Trade deficit was $18.37 billion in August. However, the merchandise trade deficit in August was estimated at $27.98 billion and for April-August 2022, the merchandise trade deficit was estimated at $124.52 billion. If our economy grows and consumption improves, there will be a commensurate rise in imports, while a global recession will reduce demand for our exports, which may increase our current account deficit (CAD). An article by the Reserve Bank (RBI) said that CAD is likely to remain within 3% of GDP in 2022-23. ET. Fingers crossed. "US and European importers of merchandise like bags, apparel and jewellery are asking their Indian suppliers to ship cheaper products, as the purchasing power of inflation-battered consumers in those markets has declined." ET. The national debt of the US is $30.888 trillion. pgpf.org. Almost ten times India's nominal GDP which was $3.173 trillion in 2021. World Bank. "Federal Reserve officials look on track for another jumbo increase in interest rates this month, as they hasten to crimp demand and assure Americans they will bring inflation back down to 2%." ET. Which means, "A rally that has the dollar on course for its best year since 1984 has further to run, traders and analysts say, suggesting more pain almost everywhere else as other currencies either crumble or require rapid rate hikes to stay put." Reuters. Or sell dollars, as the RBI has been doing. "The country's forex reserve has shrunk by almost $90 billion from the peak of $642 billion in November 2021. Forex reserves at current level can pay for 9 months of imports. India's monthly import bill is around $63 billion." TNIE. Once the piggy bank is empty then what?