India is a stable economy with the ability to withstand external headwinds, says DEA Anuradha Thakur
India has established its economy as stable amidst global uncertainty, with significant growth in GDP from $2.5 trillion to $4.3 trillion, Department of Economic Affairs Secretary Anuradha Thakur said. Government initiatives have focused on developing strategic sectors such as semiconductors and critical minerals, aiming to enhance economic resilience, she added.
India's Department of Economic Affairs Secretary, Anuradha Thakur, has asserted that India remains a stable economy capable of weathering external challenges. Speaking at the SBI Banking and Economics Conclave, Thakur emphasized the importance of building strategic resilience. She highlighted several proactive steps taken by the government to develop capacity in emerging and strategic sectors, citing the Semiconductor Mission 2.0 and the Critical Mineral Mission as examples.
Thakur also noted that India's GDP has grown from $2.5 trillion to $4.3 trillion, a 77% increase in inflation-adjusted terms, the highest among the world's 20 largest economies. The country has reduced poverty, strengthened institutions, and deepened financial markets as part of its economic progress. Additionally, India has occupied a growing role in global economic institutions and forums, moving from seeking a greater voice to helping shape the global economic agenda.
Despite its economic strength, Thakur pointed out that India still has challenges to overcome, including developing its financial center and leveraging more household savings into the financial system.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
