India emerging as one of the fastest growing economies in recent years – ‘$5 trillion economy by 2025’

India emerging as one of the fastest growing economies in recent years – ‘$5 trillion economy by 2025’

KUWAIT CITY, May 11: The Embassy of India, Kuwait, in association with Indian Business & Professional Council (IBPC), with the support of Kuwait Chamber of Commerce and Industry (KCCI) and Union of Investment Companies (UIC), Kuwait organized an Investment Conference recently at Hotel Four Seasons, Kuwait City. A press release issued by the embassy said delegates from Department for Promotion of Industry and Internal Trade, Invest India, National Investment and Infrastructure Fund (NIIF) and Confederation of Indian Industry (CII) comprising of high-ranking officials participated in the Investment conference.

The delegates from Invest India gave an elaborate presentation highlighting the emergence of India as one of the fastest growing economies in the world in recent years, making it an attractive destination for businesses and investors alike. The Macroeconomic indicators justify the strong positing of India as a rising economy. The macro indicators show on the back of solid structural reforms and macroeconomic stability, India’s growth story has just begun. India is currently a $3.5 trillion economy, ambitiously aiming to be $5 trillion economy by 2025; India achieved the highest annual FDI inflow of $84.84 billion in FY21-22 as ‘Make in India’ focuses on 27 sectors to make India a manufacturing hub.

The highlights of macroeconomic indicators show US$ 7.1 billion FDI equity inflows in services sector in FY22; UPI-based transactions grew 121 percent in value and 115 percent in volume between 2019 and 22; India ranks as the second largest manufacturer of mobile handsets in the world in volume terms since over 200 units are manufacturing cellular mobile phones and parts/ components up from only 2 units in 2014. This is addition to India being a democratic stable governance regime and the largest democracy in the world; currently the United States is the leading economy in the world followed by China, Japan and Germany with India taking the fifth spot with $3.5 billion after being in the 10th position in 2014-15 with $2 trillion economy.

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