Tuesday, March 21st, 2023 12:51:19

India’s GDP to shoot up to 4th place by this year’s end

Updated: March 3, 2023 2:38 pm

Will India’s GDP, which is currently ranking fifth on the world economy index, rise to fourth place by this year’s end? The answer is yes, if we go by the statement of Union Minister of State for External Affairs Rajkumar Rajan Singh. He said, India’s GDP is currently ranking fifth on the world economy index, which will go up to fourth by this year’s end and overtake the position of Germany.

He said this after the inauguration of the G-20 Business Conference (B20) at Aizawl in Mizoram today. The theme of the conference was India Initiatives in the North East – Conference on opportunities for multilateral business partnerships.

Addressing the event, Minister Rajkumar Rajan said that India’s G20 presidency is benefiting people to a larger extent, including expanding employment opportunities, it will also open doors to South East Asian nations.

He said, Mizoram B20 will showcase the potential and capabilities of the States in various sectors including Health and employment being the main focus of this Summit. He also said that the platform will enable participating delegates to explore opportunities and build mutually beneficial long-term partnerships. He further said, Prime Minister Narendra Modi wants India’s G-20 Presidency to be celebrated in every corner of the country along with his idea of Sabka Saath and Sabka Vikas.

Union Minister for Commerce and Industries Som Parkash said that India has accorded the highest priority to create an enabling environment for innovation and modernisation. He said that Unified Payment Interface (UPI) is propelling India to become home to the highest number of cashless transactions in the world and is showing the way to many other countries.

He also said that under the leadership of PM Narendra Modi, the government has taken various initiatives to propagate the development of the startup ecosystem in the country, making it the third largest in the world. There are more than 92,000 recognised startups in the country today including more than 1000 startups from the North Eastern States, he added.

Posted By Uday India

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