India will play an important role in shaping the future of global economy: Amitabh Kant
New Delhi:
G20 (G20) Sherpa and former CEO of NITI Aayog, Amitabh Kant said that as the focus of the world is going to the developing countries of Global South, India’s fast economic progress global economy (Global Economy will play an important role in shaping the future.
In his address at an event organized by the Association of Mutual Funds in India (AMFI), Kant said, “According to the IMF, 75-80 percent of the economic growth will come from Global South this year.”
India will overtake Germany and Japan by 2027
He said that India has emerged as the fifth largest economy in the world on the basis of major investment in the field of economic reforms and infrastructure. Due to rapid economic growth, India will now overtake Germany and Japan by 2027.
Country on the path of becoming a US $ 30 -US economy by 2047
Amitabh Kant further said that India’s future will be operated by constant investment in infrastructure, digital innovation and environmental stability and the country is on the way to become a US $ 30 -trillion economy by 2047.
India’s role in global development
Amitabh Kant said that both IMF and World Bank (World Bank) have predicted that in the next three decades, three-fourths of global development will come from Global South, which will be largely operated by young and dynamic population. This demographic dividend will play an important role in economic expansion and is completely opposite to Europe and America, where the population is growing old.
India’s transformation from economic reforms
Amitabh Kant spoke about the major changes of a decade from IMF, from being one of the world’s “five weak” countries to become an Economic Economic Superpower. He said that this change is inspired by many adventure structural reforms, in which GST (GST), Insolvency and Bankruptcy Code (IBC), Real Estate Regulation and Development Act (RERA) is implemented and ease of trade (Ease of Different initiatives include Doing Business).
India’s boom in financial inclusion
Amitabh Kant further said that in 2016 only 18 percent of Indian women had access to bank accounts. This figure has now increased to 91 percent, which shows the rapid progress made by the country in ensuring financial inclusion.
India’s progress in climate change and green energy
According to Amitabh Kant, India is progressing rapidly in green energy along with the production and distribution of Green Hydrogen to meet the country’s Decarbonization targets in the fight against Climate Change. .