Speaking of India’s economic resilience, Unon Minister Bhupendar Yadav said, “There was fear that the Indian economy would collapse after Covid. But under the leadership of Prime Minister Shri Narendra Modi ji, India turned the crisis into an opportunity.
The world commended India’s efforts in combating COVID-19. International organisations like the IMF, World Bank, and others acknowledged India’s remarkable V-shaped economic recovery, surpassing that of China and the US.”
“When many doubted we will recover and that at best our recovery will be U-shaped, India bounced with a V-shaped recovery.”
He said the IMF, World Bank and several global heads have acknowledged India as the bright spot amid an otherwise global downturn. “In 2022, India likely topped its former colonial master Britain in gross domestic product, becoming the world’s fifth-largest economy“Apple has started assembling its latest iPhone 15 in India. Taiwan’s Foxconn has teamed up with Vedanta to jointly make semiconductors in India,” the Minister highlighted.
Yadav said India is set to overtake Germany in terms of GDP in 2025 and Japan in 2027 to become the third-largest economy after the US and China.
The Union Minister highlighted, “PM Modi has pledged to make India a developed country by 2047 when it celebrates the 100th anniversary of its independence, the realisation of Amrit Kaal.”
“Prime Minister Modi’s personal convictions about India’s role in the international system, its spiritual and civilizational roots that envisages the world as a family (Vasudhev Kutumbakam) and happiness for all (sarve bhavantu sukhinah) have been integrated into policymaking.
This has helped him win the faith of the people including the Indian diaspora and this has instilled confidence in people about their own roots. This is because PM Modi believes that only a secure India that is confident of its place in the world will be able to deal with issues from a position of strength,” the Union Minister said.
