Emphasizing the frugal nature of India’s economic development and advantage of demographic dividend, Union minister Jayant Sinha has said that India is poised to become the entrepreneurial engine of the world and lead in innovation & economic development on the back of these two factors. He also mentioned that the country has made optimum use of resources and is extremely energy efficient which help the county to stand out in the world.
Union minister further pointing to the statistics about the county’s growing economy said that these statistics put India on par with many leading countries in the world, including the USA and China. He said that India’s Gross Domestic Product (GDP) is currently growing at 7 to 8 per cent and if it is looked at in the context of purchasing power parity (PPP) India’s economy is worth 9.5 trillion dollars and in a decade it will contribute 11 trillion dollars to the world economy.
Sinha also said that the government’s continuous focus on minimum government and maximum governance has fostered a partnership between people and government and this will lead to broader, deeper and structured reforms.