In FY22, India will grow the fastest in the world: Amit Shah

Union Home Minister Amit Shah on Friday said that India is likely to become the fastest-growing economy in the world in the current financial year. “We are reaching the pre-COVID levels. July to September GDP number has been at 8.4 per cent and I think in the year 2021-22, India is likely to become the fastest-growing economy in the world. I will not be surprised if we touch double-digit growth,” Shah said while addressing FICCI’s Annual Convention & 94th Annual General Meeting.

Shah said out of the 22 parameters of the economy, India has exceeded in 19 parameters, and this shows that the country has come out strong from the crisis. “Both manufacturing and service sector index has reached the pre-COVID levels. With the announcements of various packages and relief, our inflation is within the targeted range of 4-6% as set by the government,” he added.

Highlighting the potential of the MSME sector, Shah said that till the time “we encourage and strengthen this sector we cannot address the issue of unemployment in the county”. He also emphasised on the need of spending more in the R & D sector.

The Home Minister pointed out that FICCI’s Annual General Meeting was happening at an important juncture as the world is slowly coming out of COVID and on the other hand, India is celebrating Azadi ka Amrit Mahostav. The time has come for FICCI to increase its role in India’s growth, he noted.

Shah further said that some decisions of the Narendra Modi-led central government may not be correct but no question can be raised on the intent of the government. While addressing the 94th Annual General Meeting of the Federation of Indian Chambers of Commerce and Industry (FICCI), Shah said, “You may find that some decisions were not correct, but no one can say that intentions were wrong.”

He further emphasised on the need for FICCI to identify, collaborate and prepare a roadmap of potential sectors for next 25 years when India will celebrate its 100 years of Independence. The vision of Atmanirbhar Bharat can be achieved when organisations like FICCI come forward and work with the government on various policies, he added.

Shah further said that some decisions of the Narendra Modi-led central government may not be correct but no question can be raised on the intent of the government. While addressing the 94th Annual General Meeting of the Federation of Indian Chambers of Commerce and Industry (FICCI), Shah said, “You may find that some decisions were not correct, but no one can say that intentions were wrong.”