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Expressing optimism over India’s economic growth, NITI Aayog CEO Amitabh Kant has said that Indian economy growing at 9.2%, among fastest-growing large economies. He added the Indian economy is expected to grow at similar rates in the coming years. While referring to the government’s production linked incentive (PLI) scheme for sunrise sectors, he said it will add $520 billion to India’s output in the next five years and make India a part of the global supply chain.

He said ‘Today India is witnessing unprecedented levels of economic development and technological disruptions. The economy is growing at 9.2 per cent and is expected to grow at similar rates in the coming years, making us one of the fastest-growing large economies in the world’. He noted the country has taken several measures to maximise efficiency and several reforms have been taken by the government in that direction such as GST, Insolvency & Bankruptcy Code, lowering of corporate taxes, etc. This will help make India a global manufacturing champion and manufacturing hub.

The government has rolled out robust infrastructure schemes such as the National infra asset monetisation pipeline and PM Gati Shakti. Kant said ‘the combined affect would ensure the development of a world-class infrastructure with the participation of both - the government and the private sector’. He stressed that embracing technology would be the key to future success and relevance.

India has already succeeded in creating an ecosystem of technology with 814 million internet users and 85 unicorns. Calling the COVID-19 pandemic as a ‘black swan’ event, he said it threw new problems and challenges, which required new strategies to address. He added ‘this also helped to identify new opportunities which contribute to the strengthening of the position’.