'India to continue as world's fastest-growing economy', says PM Modi

Prime Minister Narendra Modi, on Monday (February 24), reiterated that India will continue to be the world’s fastest-growing economy in the near future as well.

Speaking at the Global Investors Summit in Madhya Pradesh, the prime minister said, “In the history of India, this is the first time that the entire world is so optimistic for the country. The world over, whether it be laypersons or economic experts or various countries and institutions, everyone has high expectations from India. The comments that have come in in the past few weeks are set to encourage investors here.”

He went on to say, “Only recently, the World Bank has said India will continue to be the world’s fastest growing economy in the years to come. According to an important representative of OECD, the future of the world is in India.”

India to remain fastest-growing economy

The World Bank report being referred to was the ‘Global Economic Prospects’ document released last month. It mentioned, “India is projected to maintain the fastest growth rate among the world’s largest economies, at 6.7 per cent in both FY2025/26 and FY2026/27.”

The World Bank expects the services sector in India to enjoy sustained expansion, and manufacturing activity to strengthen, “supported by government initiatives to enhance logistics infrastructure and improve the business environment through tax reforms”.

‘Future of the world is in India’

The other statement PM Modi cited was of OECD chief economist Alvaro S Pereira. At the ET NOW Global Business Summit, he had praised India saying that, “The future of the world is in India. I have no doubt about that. India is a rising economic power and a major global power.”

The confidence in India has been shown despite global headwinds, including uncertainty in trade policies under the Trump 2.0 administration in the US, impact of various conflicts the world over, and inflationary forces.