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Business News/ News / India/  ‘We are targetting…’ What EAM Jaishankar said on India's growth target
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‘We are targetting…’ What EAM Jaishankar said on India's growth target

External Affairs Minister S Jaishankar while speaking at the Raisina@Sydney Business Breakfast said that India is targeting a growth rate of 7 percent this year and it would stay in the 7-9 percent range for the next 15 years

 Raisina@Sydney Business Breakfast is being jointly organized by the Australian Strategic Policy Institute (ASPI) and India's Observer Research Foundation (ORF) at the InterContinental Hotel in Sydney. (PTI)Premium
Raisina@Sydney Business Breakfast is being jointly organized by the Australian Strategic Policy Institute (ASPI) and India's Observer Research Foundation (ORF) at the InterContinental Hotel in Sydney. (PTI)

External Affairs Minister S Jaishankar won Saturday said India is targeting a growth rate of 7% this year and expects to surpass it over the next five years. The EAM while speaking at the Raisina@Sydney Business Breakfast revealed that India would aim to maintain the 7-9% growth range for the next 15 years. The event is being jointly organized by the Australian Strategic Policy Institute (ASPI) and India's Observer Research Foundation (ORF) at the InterContinental Hotel in Sydney.

The EAM said “We are targeting 7 percent growth this year, but we expect it to improve in the next five years. And definitely, we would stay in 7-9 percent range at least for a decade and a half,"

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He added, “And you can today see the same reflected in the investment climate, both in the flow of FDI, FII as well as in the investments which the government itself is leading the capital outlay in this year's budget,"

Jaishankar also spoke about Indian talent moving to Australia, with roughly one million Indian students staying in the country. Welcoming Australian universities to India EAM said, “We would welcome Australian universities to India. For us, it's not just about Indian students coming to Australia but it's also about Australia and India working together to produce skilled, competitive talent in India for the entire world,"

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Jaishankar also talked about the positive impact of the Economic Cooperation and Trade Agreement (ECTA) signed between India and Australia. The agreement was signed April 2, 2022 and came into being on December 29, 2022. He also remarked that encouraging greater investment should be the focus, especially during CEO Forum meets or the Prime Minister and Trade Minister's visit.

The Raisina@Sydney Conference, which began on February 15 with a business breakfast, will involve ministerial and high-level government representations, as well as participation from industry and civil society. The event will feature panel and keynote addresses by leading regional think-tanks on issues ranging from geopolitics, to technology and economics.

 

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Published: 18 Feb 2023, 07:43 AM IST
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