India’s digital sector valuations will cross $1 trillion by 2025, says PM Modi

India's digital sector valuations will cross $1 trillion by 2025, Prime Minister Narendra Modi Said on 22 June while making his remarks at the opening ceremony of the BRICS Business Forum being hosted by China in a virtual mode.

Stating that India supports innovation across every sector and underlining the role of BRICS countries amid the global focus on post Covid recovery, he said, "BRICS was established with the belief that this group of emerging economies could emerge as engines of global growth. Today, when the world is focusing on post Covid recovery, the role of BRICS countries will be very important."

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"India supports innovation across every sector including drones, green energy and space. By 2025, India's digital sector value will cross USD 1 trillion valuations," PM Modi added.

PM Modi even said that India is is expecting 7.5 per cent growth this year. "Which makes us the fastest-growing major economy. Transformative changes are taking place in every sector of emerging New India," he added.

Citing the government's GatiShakti plan, PM Modi emphasised that India's success is based on technology-led growth with innovation and startups. "The government emphasises on 'Ease of Living', building infrastructure with PM GatiShakti, digital transformation and digital economy."

PM Modi will be attending the 14th BRICS summit in a virtual mode on June 23-24.

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Earlier, the Ministry of External Affairs had released a statement saying PM Narendra Modi will be attending the 14th BRICS Summit hosted by China in virtual mode on 23-24 June 2022.

BRICS is a multilateral forum consisting of five major emerging economies of the world, namely Brazil, Russia, India, China and South Africa.

With inputs from ANI.