India has emerged as global growth engine: Rajnath Singh

India has emerged as world’s growth engine and is in the position to have a positive impact on other countries as well. This was stated by Defence Minister Shri Rajnath Singh while addressing the 96th Annual General Meeting and Convention of the Federation of Indian Chambers of Commerce & Industry (FICCI) in New Delhi on December 09, 2023. If India has to support the development of other countries, it is imperative that its own growth is robust.

“The government is working to ensure that India’s image as world’s growth engine is strengthened but we also need India’s wealth creators and thought leaders to be part of it,” he added.

While highlighting the potential of India’s youth to propel growth, he stated that the government has initiated various schemes to promote the youth. “Today our youth has become a job creator instead of a job seeker. When we are promoting investment in education and health, it means that we are trying to increase the future potential of India. Today, when India is a growth engine then the fuel of that engine is the youth,” he added.

Shri Rajnath Singh further stated that investment in education, health, infrastructure, youth and capital are key for the success of India’s growth. He also reiterated the 4 pillars on which India’s growth will depend which include developing India not at the cost of environment; empowering the women; creating growth web for holistic development across nation and focus on improving the lives of lower income groups. 

He stated that the government has been working to invest at the bottom of the pyramid including farmers, tribals, street vendors and Vishwakarma workers. “We have ensured that we pay attention to these by implementing schemes for them,” he added and urged the industry to cater to the needs of these to attain rapid economic growth.

Mr Subhrakant Panda, President, FICCI said, “There has been a deepening engagement of the industry and, with the government’s intervention and support, Indian defence sector is poised to achieve the target of USD 22 billion of defence production by 2025, moving away from being a large importer of defence equipment and becoming a major exporter.

Dr Anish Shah, President – Elect, FICCI while delivering the vote of thanks said, “As India becomes the world’s growth engine, it has also established leadership on the world stage. This leadership is not only due to economic factors, but it is also based on the strength of the defence forces.