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PMEAC Member Sanyal: India is doing well considering the situation of recession in the world. In terms of economic growth rate, India is capable of achieving a rate of 9 percent, but considering the global situation at present, the country should be satisfied with an economic growth of 6.5 to 7 percent. Prime Minister Narendra Modi Sanjeev Sanyal, a member of the Economic Advisory Council to the Prime Minister, has said.
He said in a conference that India is following investment and export based growth model. On the other hand, in the era of global upheaval, the RBI and the central government are working on a restrained macroeconomic outlook, which is a right step.
India able to register 9 percent growth
Sanyal said that this is a very turbulent time and we are already achieving a growth rate of 7 percent. In this way, with the help of the system that we have created, we have been able to register a growth of 9 percent in normal times. After the Russia-Ukraine war in February, the global economy is troubled by the supply chain crisis. He said that India is joining the system of global supply chain.
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said on foxconn
PMEAC member Sanyal said, “Apple’s only production capacity is in India after the problem that arose at the Foxconn factory in China.” There is an opportunity for us to enter the global supply chain and we are already doing that.
World Bank reduced estimate
Let us tell you that recently, the World Bank had reduced the estimate of India’s growth rate citing the deteriorating international situation. The Indian economy will grow at a rate of 6.5 percent in the financial year 2022-23, which is 1 percent less than the estimate of June 2022.
read this also- India Forex Reserves: Foreign exchange fund increased to $ 547.25 billion, know how much gold reserves
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