India to grow at 7.5%: PM at BRICS forum

New Delhi, June 22

The Indian economy is expected to grow by 7.5 per cent this year, making it the world’s fastest-growing major economy, said PM Narendra Modi in a virtual address at the BRICS (Brazil-Russia-India-China-South Africa) Business Forum.

He said the value of India’s digital economy would reach $1 trillion by 2025 and that the government was supporting innovation in every sector.

To visit Germany, UAE

• PM Narendra Modi will be visiting Schloss Elmau, Germany, for the G7 Summit under the German Presidency on June 26 and 27
• After attending the G7 Summit, the PM will be travelling to the UAE on June 28 to pay his condolences on the passing away of Sheikh Khalifa bin Zayed Al Nahyan, former UAE President and Abu Dhabi ruler

“There are investment opportunities to the tune of $1.5 trillion under the country’s National Infrastructure Pipeline. To deal with the economic problems arising out of the pandemic, we have adopted the ‘reform, perform and transform’ approach, the results of which are evident from the growth,” he said. The address comes ahead of the 14th BRICS Summit hosted by China in virtual format on June 23 and 24.

“Today, India has one of the best eco-systems for innovation, which is reflected in the growing number of startups. There are more than 100 unicorns in over 70,000 startups in India and the number continues to grow,” he said.