India is still a bright spot in an uncertain global economy, according to Piyush Goyal, minister of commerce and industry.
He claimed that while many nations were currently experiencing recession fears, a slowdown in trade, and higher interest rates, India had continued to experience strong economic growth.
After the first G20 Trade and Investment Working Group meeting, which was held in Mumbai, Goyal addressed the media, saying, “Amidst all these challenges, India is the bright spot that almost everybody in the world today recognises and respects.” Over 100 delegates from G20 member nations, invitee nations, regional groups, and international organisations took part in the three-day meeting, which took place from March 28 to 30.
Goyal claimed that numerous reports indicate that India will continue to have the largest economy with the fastest growth rate. in the upcoming years.
“We have consistently kept growth high. The COVID pandemic presented some difficulties, but we were able to overcome them. We anticipate having the fastest-growing economy in the world again the following year, particularly for the major economies, he said. He claimed that the Free Trade Agreement (FTA) negotiations with the UK, Canada, nations of the European Union, and Israel are progressing well. Regarding the rupee-based cross-border trade settlement, Goyal claimed that a large number of countries have expressed strong interest in signing an agreement with India for the same.
