Growth rate

 Chief Economic Adviser (CEA) Ananth Nagaswaran today said India’s economy will grow at an average annual rate of 6.5 per cent from 2023 to 2030.  Nagajawaran said at the BCCI Indo-Pacific Economic Conference that the global economy is in a period of uncertainty and India should join the global supply chain and become an attractive country for the China Plus One strategy.

New Delhi: Chief Economic Adviser (CEA) V Ananth Nageswaran on Friday said the Indian economy will grow at an average rate of 6.5 per cent annually between 2023 and 2030.

The global economy is going through a period of uncertainty.

 Speaking at the BCCI Indo Pacific Economic Conclave, Nageswaran said the global economy is going through a period of uncertainty and India will have to join the global supply chain and make itself attractive for the China Plus One strategy.

 They said that

 Our economic growth rate in the financial year 2021-22 was 9.1 percent, in the financial year 2022-23 it was 7.2 percent.  The average growth rate for this year and the remaining years of the decade is expected to be 6.5 percent.  I am talking about 6.5 percent growth rate.  Not 7.5 or eight percent.  A major reason for this is that during this period, there is little possibility of seeing the same kind of acceleration in global growth as was seen between 2003 and 2008.

He said that India has made unprecedented progress in the last eight years.  In 2014, our economy was at number 10 and now it is at number five.  By the end of this decade we will become the third largest economy in the world.

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