Business & Economy

India Set to Power Global Growth: Jaishankar

© AP Photo / Rafiq MaqboolIndian workers
Indian workers - Sputnik India, 1920, 02.04.2024
Among the G-20 nations, India emerged as the fastest-growing economy during the last financial year, registering a GDP rate of over 7 percent. Economists have forecast a similar trajectory for the South Asian country in 2024-25.
India's External Affairs Minister S. Jaishankar on Tuesday said that the South Asian giant is set to emerge as the engine of global growth at a time when it has emerged as the bright spot among the world's largest economies.
"The world believes that India as the fastest growing large economy can become the engine of global growth. The world understands that India has technological talent," Jaishankar stated in his address at an event in Gujarat's Rajkot.
"We should understand that being the fifth largest economy, on the way to becoming the third largest and with the biggest population, the world believes us to be talented people and expects us to contribute to resolve challenges," India's top diplomat added.
Jaishankar's remarks come in the wake of India earning praise from Global South nations for its handling of inflation in the country, even taking on the West for its purchases of Russian oil.

India registered a retail inflation of 5.1 percent in February 2024, well under the 6 percent upper ceiling set by the sovereign state's banking regulator, the Reserve Bank of India (RBI).

Economists – both domestic and international have credited Prime Minister Narendra Modi-led government's independent foreign policy that has defied Western pressure over its record crude purchases from Russia for keeping prices of essential commodities in check in India.
At present, India is the fastest-growing large economy in the world, with GDP numbers crossing 8 percent last quarter.
Indian External Affairs Minister S. Jaishankar in Moscow. - Sputnik India, 1920, 27.03.2024
Indo-Russian Relations
India's Decision to Import Russian Oil Benefits Global Economy: Jaishankar
To participate in the discussion
log in or register
Заголовок открываемого материала