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“Asian countries, including India, have shifted the world’s economic center of gravity to Asia”: Foreign Minister

India’s economy grew by more than 20% in the first quarter

Foreign Minister Harsh Vardhan Shringla pointed out that the Indian economy has returned to a high growth path and the country’s gross domestic product (GDP) grew by more than 20% in the first quarter of the year. current exercise.

In his remarks at the annual session of the Indian Chamber of Commerce held in Calcutta titled ” Bharat @ 75: Empowering India: Today for Tomorrow ”, the foreign minister also said that economic changes are taking place amid what has been described as a “rebalancing”.

“Very high growth rates in Asian countries, including India, have shifted the world’s economic center of gravity to Asia,” the foreign minister said.

“This has geopolitical and geoeconomic consequences. The Indo-Pacific region, which stretches from the coasts of America to the east coast of Africa, and includes the Indian Ocean region, is now a center of Major global attention. It generates nearly 60% of the world’s economic output. It also contributes 70% of the world’s economic growth, “said Mr. Shringla.

He also noted India’s growing role in the Indo-Pacific, including its role as an Internet security provider in the region.

The Foreign Minister highlighted India’s economic growth trajectory despite difficult times, adding that the post-pandemic economy will differ significantly from the current one.

“For India to have a role in world affairs would have been only an aspiration when this House was founded. India was still a submissive nation and independence a distant dream. Independence, the trauma of partition and emerging nation struggles were in the future, ”Mr. Shringla said.


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