India poised for economic recovery of 7-8%, says Dr S Jaishankar

Indian External Affairs Minister S Jaishankar on Saturday lauded the country's vast social transformation and said that India is poised for economic recovery of between 7 and 8 per cent.

He also highlighted that the central government has distributed food to over 800 million people.

"India's seen a vast social transformation. We're today poised for an economic recovery of 7-8 per cent. The world looks at our economy with a great deal of respect... 800 million people since lockdown till today receive food from the government so we don't have more people dying of starvation than the disease," said EAM Jaishankar.

His remarks came while speaking at IIM Ahemdabad in Gujarat where he addressed and interacted with students on various topics about the country's stand and the Indian foreign policy.

"Swacch Bharat and toilet building caught the world's attention as earlier it was a blot on our image. The fact that we've constructed 100 million toilets with a visible improvement in sanitation has actually had a big impact abroad," he added.

He also stressed on the indigenous production of Covid vaccines and said,"The fact that we made our own vaccine has really resonated and garnered us respect across the world. Made in India is significantly responsible for upgrading our brand."

Jaishankar also said that the "three shocks" of Covid-19 pandemic, Ukraine conflict and climatic disturbances are also impacting the evolution of the Asian economy.

"Together, they make a powerful case for more engines of growth and resilient and reliable supply chains. There is a parallel debate underway in the digital world that focuses around trust and transparency. How these will translate into strategic outcomes is still too early to predict," he asserted in the meeting.

Jashankar also emphasized the contribution that rising Asia can make to the world order. "As the most dynamic region beyond the West, its successes can inspire the rest of the Global South. Indeed, it is leading the process of global rebalancing through its endeavours. For this to have the widest impact, India espouses a cooperative, inclusive and consultative approach to international relations," he said.

• India