Indian economy fast on track, economic growth is expected to be 7.5% this year: PM Modi

Prime Minister Narendra Modi on Wednesday said the government expects the Indian economy to grow at 7.5 percent this year. Addressing the BRICS Business Forum via 'video conference', Modi said that the size of the Indian digital economy will reach US$ 1,000 billion by 2025. Highlighting the strength of the Indian economy, he said that the country has investment opportunities worth $1500 billion under the National Infrastructure Pipeline. In his address, Modi said, we are expecting a growth rate of 7.5 percent this year, which will make us the fastest-growing major economy.

The Prime Minister said that in the 'New India', major changes are taking place in every sector, and technology-led growth is a key pillar of the country's economic recovery. The Prime Minister said we are supporting innovation in every field. The BRICS Business Forum was held a day before the summit of the Group of Five countries. BRICS brings together the five largest developing countries of the world – Brazil, Russia, India, China, and South Africa. These countries together account for 41 percent of the global population, 24 percent of the global GDP, and 16 percent of the global trade.

The Prime Minister said, we are expecting a growth rate of 7.5 percent this year, which will make us the fastest-growing major economy. Significantly, for a long time, India was the fastest-growing economy in the world. However, the situation worsened after Corona. Now once again the Indian economy is fast coming back on track.