On July 12, while addressing the National Conclave on Mines and Minerals, Union Home Minister Amit Shah asserted that India is the fastest-growing economy in the world.
Addressing the event in Delhi, Shah said, "I am very confident when I say that India is the fastest-growing economy in the world. In 2022, India has shown a growth rate of 8.2% which is more than many developed nations in the world."
"If we look at a growth rate of 8.2% in isolation it doesn't seem much, it's still less than 10. However, in the same time frame, USA's growth has been 3.7%, Germany's growth has been 2.1%, China's is 4.4% and Brazil has grown by 0.8 per cent," the Home Minister added.
Touching upon the topic of Inflation Shah added, "We've controlled inflation better than most countries.
The Home Minister also stated that FDI has increased in the country and informed that India is now ranked 63rd in the ease of doing business index from 142nd a few years ago. "The amazing boom of the start-up culture has led to the birth of over a hundred unicorn start-ups in India, and if we consider all these factors, slowly but surely the whole world is understanding that massive reforms are taking place here and India is growing," Shah said.
India's economy likely to touch $30 trillion in next 30 years: Piyush Goyal
In a speech to exporters and other stakeholders in the textile business on June 26, in Tiruppur, Commerce and Industry Minister Piyush Goyal predicted that India's economy would grow to $30 trillion in the following 30 years.
He emphasised that the nation's economy continues to grow at the quickest rate in the globe. According to Goyal, if India experiences compound annual growth of 8%, it will double in size to a $6.5 trillion economy in around 9 years. Similar to this, it is estimated that India's economy will be $13 trillion in 18 years. It is possible to predict that the GDP will grow by $26 trillion in 27 years, and hence it can be predicted that India will be a $30 trillion dollar economy in the next 30 years.