India expected to grow 7.5% this year, says Prime Minister Narendra Modi

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Prime Minister Narendra Modi said the economy will grow by 7.5% this year

New Delhi:

The government expects the Indian economy to grow by 7.5% this year, Prime Minister Narendra Modi said on Wednesday.

In a virtual address to the BRICS Business Forum, Modi also said that the value of India’s digital economy will reach $1 trillion by 2025.

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Highlighting the strength of India’s economy, he said there was an opportunity to invest $1.5 trillion in the country’s national infrastructure pipeline.

“We expect a growth rate of 7.5 percent this year, which will make us the fastest growing major economy,” Modi said in his remarks.

In a “New India”, transformative changes are taking place across all sectors, he said, adding that a key pillar of the country’s economic recovery is technology-driven growth.

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“We support innovation in all sectors,” said the Prime Minister.

The BRICS Business Forum took place a day before a virtual summit of the five-nation bloc.

The BRICS (Brazil-Russia-India-China-South Africa) group together five of the largest developing countries in the world, representing 41% of the world’s population, 24% of world GDP and 16% of world trade. .

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