Expected 7.5% economic growth rate this year: PM Modi at BRICS Business Forum

New Delhi: Prime Minister Narendra Modi on Wednesday said the government expects the Indian economy to grow at 7.5 per cent this year. In a virtual address at the BRICS Business Forum, Modi also said that the value of the Indian digital economy will reach USD 1 trillion by 2025. Highlighting the strength of the […]
 


Expected 7.5% economic growth rate this year: PM Modi at BRICS Business Forum

New Delhi: Prime Minister Narendra Modi on Wednesday said the government expects the Indian economy to grow at 7.5 per cent this year. In a virtual address at the BRICS Business Forum, Modi also said that the value of the Indian digital economy will reach USD 1 trillion by 2025. Highlighting the strength of the Indian economy, he said that there is an opportunity to invest USD 1.5 trillion under the country.

“We are expecting a growth rate of 7.5 per cent this year which will make us the fastest growing major economy,” Modi said in his address.

In the “New India”, transformative changes are taking place in every sector, he said, adding that a key pillar of the country’s economic recovery is technology-led development.

“We are supporting innovation in every sector,” the Prime Minister said.

The BRICS Business Forum took place a day before the virtual summit of the five-nation bloc.

BRICS (Brazil-Russia-India-China-South Africa) brings together the world’s five largest developing countries, representing 41 per cent of the global population, 24 per cent of global GDP and 16 per cent of global trade. ,