India has overtaken the United Kingdom to become the fifth largest economy globally. External Affairs Minister S Jaishankar said on Saturday that the world views India’s economy with great respect. Appreciating India’s massive social transformation, he said that the country is ready for an economic recovery of 7 to 8 percent.
EAM Jaishankar said “India has seen a huge social transformation. We are ready for an economic recovery of 7-8 percent today. The world looks at our economy with great respect… 800 million people since the lockdown till date We get food from the government so we don’t have people dying of hunger.”
Let us inform that External Affairs Minister S Jaishankar was interacting with the students of IIM Ahmedabad on various topics regarding India’s foreign policy. While highlighting the indigenous production of COVID-19 vaccines, he said, “The fact that we have made our own vaccine has really resonated and has earned us worldwide respect. Made in India upgrades our brand. significantly responsible for doing so.”
The External Affairs Minister said that Swachh Bharat and toilet construction in India has caught the attention of the world, earlier it was a blot on our image. “The fact that we have built 100 million toilets with a marked improvement in sanitation has really had a big impact abroad,” he said.
Indian economy ahead of UK
In the last three months of 2021, India has overtaken the United Kingdom to become the fifth largest economy in the world. According to IMF data, India has increased its lead in the first quarter. Calculated on US dollar basis. The size of the Indian economy in “normal” cash terms for the 3 months ending March on an adjusted basis and using the dollar exchange rate on the last day of the relevant quarter was USD 845.7 billion.
Meanwhile, the Indian government said it expects the economy to grow at 7-7.5 per cent in 2022-23, in line with its projections made earlier this financial year. Finance Secretary TV Somanathan commented, “I’m not going to make a more accurate prediction from the RBI… Somewhere in the region of 7-7.5 per cent real GDP growth is completely consistent with that expectation. It is. Totally suits him.”
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