New Delhi, April 21 -- Reserve Bank of India Governor Sanjay Malhotra has pointed out that the "the resilience of the Indian economy is not by chance," crediting the stability and growth of the central bank to its strong and credible institutions.

Addressing an audience at Princeton University on Saturday, Malhotra said, "The resilience of the Indian economy is not by chance. It is because of the robust policy frameworks that have been successfully developed. It is due to the strong and credible institutions that have been assiduously built. It is on account of the various reforms undertaken steadily over the years. It rests on a foundation of stability and inclusion."

India's average annual growth of 6.1 per cent over the last decade r...