“Asian Countries, Including India Have Moved the World’s Center of Economic Gravity to Asia”: Foreign Minister

Indian economy grew more than 20% in first quarter

Foreign Minister Harsh Vardhan Shringla emphasized that the Indian economy has returned to high growth momentum and the gross domestic product (GDP) of the country increased by more than 20% in the first quarter of the current fiscal.

In his speech at the Annual Meeting of the Indian Chamber of Commerce held in Kolkata titled ” Bharat@75: Empowering India: Today for Tomorrow”, the Secretary of State also said that economic shifts are taking place between what has been and is happening. described as “rebalancing.”

“The very high growth rates in Asian countries, including India, have shifted the world’s economic focus to Asia,” the foreign minister said.

“This has geopolitical and geo-economic consequences. The Indo-Pacific region, which extends from the coast of the Americas to the east coast of Africa, and includes the Indian region as well. Duong, which is now the center of global attention, accounts for nearly 60 percent, Mr. Shringla said.

He also noted India’s expanding role in the Indo-Pacific, including as a cybersecurity provider in the region.

The foreign minister emphasized India’s economic growth trajectory despite challenging times, adding that the post-pandemic economy will be significantly different from the current one.

“India having a role in world affairs will not be just an aspiration at the time this Chamber is created,” said Mr. Shringla.