India carved out its growth trajectory; on course to be top three economic power: FM

New Delhi, Nov 12 (KNN) Finance Minister Nirmala Sitharaman said on Friday that India has emerged as one of the fastest-growing major economies in the world and is expected to be one of the top three economic powers globally over the next 10-15 years.

She was speaking at the US-India Businesses and Investment Opportunities event.

The Minister said the global economic outlook remains challenging and the Indian economy is not insulated from the impact of global economic developments.

However, she said, India has carved out its growth trajectory supported by the above-normal south-west monsoon, public investment, strong corporate balance sheets, upbeat consumer and business confidence and receding threat of the Covid pandemic.

“India has emerged as one of the fastest-growing major economies in the world. It has recently surpassed the UK to become the fifth-largest economy in the world and is expected to be one of the top three economic powers globally over the next 10-15 years,” she said.

Listing out some of the important measures taken by the government to boost the economy, the finance minister mentioned about Production Linked Incentive (PLI) schemes across sectors, PM GatiShakti programme and semiconductor mission. (KNN Bureau)