India: Economic Resilience Amid Global Challenges

Despite significant economic disruptions caused by the Covid crisis worldwide, India's economy has maintained a robust growth rate of 7 to 8 percent over the last decade. Union Minister Dharmendra Pradhan highlights India's trajectory to become the world's third largest economy, emphasizing digital advancements and low corporate taxes.

In a recent address at the Indian School of Business, Union Minister Dharmendra Pradhan detailed India's impressive economic resilience in the face of the Covid crisis. While many economies floundered, India sustained a growth rate of 7 to 8 percent over the past decade.

Pradhan projected that India is on the brink of surpassing Japan and France to become the world’s third largest economy within the next few years, underscoring a strategic focus on low corporate taxes spearheaded by Prime Minister Narendra Modi.

He also highlighted India’s leadership in digital payments, which account for 46 percent of global transactions, while congratulating initiatives that have lifted 25 crore people above the poverty line.

(With inputs from agencies.)