7.5% Economic Growth Expected This Year: PM Modi At BRICS Business Forum

BRICS Business Forum: India supports, PM Modi said, innovation across every sector, including drones, green energy and space as he highlighted the strength of the country's economy.

By Aalok Sensharma
Updated: Wed, 22 Jun 2022 10:40 PM IST
Minute Read
7.5% Economic Growth Expected This Year: PM Modi At BRICS Business Forum
Prime Minister Narendra Modi/ ANI Image

The Indian economy is expected to grow at 7.5 per cent this year, Prime Minister Narendra Modi said on Wednesday. Virtually addressing the BRICS Business Forum, he also said that the Indian digital economy will reach USD 1 trillion by 2025.

India supports, the Prime Minister said, innovation across every sector, including drones, green energy and space as he highlighted the strength of the country's economy. He also noted that investors can invest USD 1.5 trillion under India's national infrastructure pipeline.

"This year, we are expecting 7.5 per cent growth. Which makes us the fastest-growing major economy. Transformative changes are taking place in every sector of emerging New India," PM Modi said, as reported by news agency ANI.

"India’s success is based on technology-led growth with innovation and startups. The government emphasises on ‘Ease of Living’, building infrastructure with PM GatiShakti, digital transformation and digital economy," PM Modi added.

PM Modi will attend the BRICS summit virtually on 23rd and 24th of this month. The summit will host a High-Level Dialogue on Global Development with guest countries.

"At the invitation of President Xi Jinping, Prime Minister Narendra Modi will be attending the 14th BRICS Summit hosted by China in virtual mode on 23-24 June 2022. This includes a High-Level Dialogue on Global Development with guest countries on June 24," the Ministry of External Affairs (MEA) said in an earlier statement.

BRICS has become a platform for discussing and deliberating on issues of common concern for all developing countries. BRICS countries have regularly called for reform of the multilateral system in order to make it more representative and inclusive.

Discussions during the 14th BRICS Summit will cover intra-BRICS cooperation in areas such as counter-terrorism, trade, health, traditional medicine, environment, S&T and innovation, agriculture, technical and vocational education and training, and MSMEs.

The discussions are also likely on issues like reform of the multilateral system, combating the COVID-19 pandemic and global economic recovery, amongst others.

(With inputs from ANI)

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