New Delhi, April 21 -- As crude oil prices decline sharply and global commodity markets reel under pressure, India's macroeconomic fundamentals appear much stronger compared to previous global crises, highlights a report by Motilal Oswal.

The report believed that despite global uncertainties, the impact on India's economic growth could remain limited, thanks to domestic resilience and improved fiscal health.

It said, "While there might be 2nd and 3rd order impacts on India in terms of IT slowdown and China dumping amidst probable currency wars, given its domestic resilience, the relative impact on economic growth may not be that pronounced".

The report also highlighted that key indicators such as the Balance of Payments (BoP), Current ...