PM Modi In BRICS Business Forum: Prime Minister Narendra Modi said on Wednesday that the government expects the Indian economy to grow at the rate of 7.5 percent this year. Addressing the BRICS Business Forum through a 'video conference', Modi said that the size of the Indian digital economy will reach the US $ 1,000 billion by 2025.
Throwing light on the strength of the Indian economy
Highlighting the strength of the Indian economy, he said that the country has investment opportunities worth $1,500 billion under the national infrastructure pipeline. PM Modi said in his address, 'We are expecting the growth rate to be 7.5 percent this year, which will make us the fastest-growing major economy.'
Revolutionary changes are taking place in New India
He said that revolutionary changes are taking place in every field in 'New India', and technology-based growth is a major pillar of the country's economic reforms. 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 is a group of five largest developing countries of the world
BRICS brings together the five largest developing countries of the world (Brazil, Russia, India, China, South Africa) on a single platform. These countries together account for 41 percent of the global population, 24 percent of the global GDP and 16 percent of the global trade.
India is the country with the fastest-growing economy
Prime Minister Narendra Modi said that this year our GDP growth rate is estimated to be 7.5 percent. This makes us the country with the fastest growing economy. Initiatives are being taken to build a New India in every field. He said that the government is emphasizing on 'ease of living'. The PM is building infrastructure to accelerate gaitshakti, digital transformation and digital economy.