Image: @DrSJaishankar
External Affairs Minister Dr. S. Jaishankar stated on Saturday, February 18 that India’s GDP is slated to grow by 7% by the year 2023, and we anticipate it to cross that threshold in the following five years. The Minister continued by saying that New Delhi would endeavour to maintain its current percentage for at least 15 years. “We are targeting 7 per cent growth this year, but we expect it to improve in the next five years. And definitely, we would stay in 7-9 per cent range at least for a decade and a half,” Jaishankar said at the Raisina@Sydney Business Breakfast.
“And you can today see the same reflected in the investment climate, both in the flow of FDI, FII as well as in the investments which the government itself is leading the capital outlay in this year’s budget,” he added.
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Raisina @ Sydney Business Breakfast:
At the InterContinental Hotel in Sydney, the Australian Strategic Policy Institute (ASPI) and the Observer Research Foundation (ORF) of India sponsored a business breakfast. Jaishankar stated that the Economic Cooperation and Trade Agreement (ECTA), which was signed on April 2, 2022, has a “good impact on trade” and went into effect on December 29, 2022.
“Encouraging greater investments should be the focus, especially during CEO Forum meets or the Prime Minister and Trade Ministers visit,” he suggested. He added about migration mobility and said, “We’ve seen a very substantial movement of Indian talent to Australia. We have roughly about a million students staying in here.”
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“We would welcome Australian universities to India. For us, it’s not just about Indian students coming to Australia but it’s also about Australia and India working together to produce skilled, competitive talent in India for the entire world,” he added.