India’s Economy Witnesses Massive Boost, Battles COVID in a Resilient Manner: FS Shringla at India Economic Conclave 2022
New Delhi: Despite the disruptions caused by the COVID-19 pandemic, Foreign Secretary Harsh Vardhan Shringla stated on Friday that India is one of the world’s fastest-growing economies.
The Foreign Secretary said in an interview, “We are seen not just as reliable political partners but as reliable economic partners. Our commitment to democracy, transparency and the rule of law and the unique Indian ethos of entrepreneurship and hard work is paying an economic dividend. We matter more than ever before in all the multilateral conversations that relate to economic and financial matters.”
Shringla, who praised India’s economic policy, stated that the country’s upcoming presidency of the G20 group is both an acknowledgement of our enhanced global standing and an opportunity to project our perspectives and highlight our priorities.
Lauding PM Narendra Modi’s initiative of “Atmanirbhar Bharat”, Shringla stated that it had transformed India’s economic diplomacy. He said, “The concept of atmanirbharta which we translate in foreign policy language into strategic autonomy is transforming our economy and technology diplomacy.”
Shringla stated that in spite of the challenges posed by the COVID-19 pandemic, India remained one of the fasted growing economies of the world. He added, “Contemporary economic events in the neighbourhood highlight both the strength and resilience of the Indian economy and its position as a source of liquidity and financial stability during difficult times.”
According to the Foreign Secretary, India will become a more prominent hub for resilient and dependable supply chains and global value chains. According to Shringla, India’s democracy dividends in foreign policy and strategic affairs are growing.
During the conversation, the Foreign Secretary also stated that foreign and strategic policies continue to evolve in response to global events. Shringla went on to say that the system designed to deal with post-war realities had clearly fallen short of dealing with problems of the twenty-first century. He emphasised India’s contribution to various United Nations initiatives. He also lauded the country’s approach to dealing with the pandemic.