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External Affairs Minister S Jaishankar has said that despite the world is facing many fallouts of the Ukraine crisis such as rising oil prices, India is confident that it will be the fastest-growing major economy in the world this year with at least 7 per cent growth. He also highlighted that India has made powerful efforts to actually grow its economy and to move towards becoming a higher-income country.

Jaishankar said ‘a lot of this required a vision, prudent management of our fiscal resources. It has required policies which made it easier for banks to lend ... to make it easier for small and medium companies to get lending, for self-employed people to get lending’. He noted that that India thinks about the ways in which it can change its , banking, education and labor policy. 

He further said ‘many big reforms have taken place and we can see the result of that in two very interesting developments. In the year ending 31 March, 2021 we have posted the highest export that wcredite have ever done. Our total exports were $670 billion. We had to trade in goods for $400 billion’.