Despite challenges such as rising oil prices and a possible poor monsoon, India is emerging as a winner in the sluggish global environment, offering sustainable growth opportunities, according to a report by Economic Times. The banking system is well capitalised, with improving asset quality and the country's strong balance sheet continues to support growth. India also has plans for upcoming reforms in areas such as ONDC (online commerce), OCEN (credit to businesses) and decarbonisation. FY24 is expected to mark an inflection point for the country.