Finance Minister of India, Nirmala Sitharaman during a conversation at Harvard Kennedy School said that on the basis of this year, next year would experience an exponential growth in the economy of India, and hence would definitely be in the range of eight percent.

She also says that this progressive growth would be sustained for the next decade due to the rising rate of expansion in the core industries and the growing rate of services. She says that as per the previous data released, India’s growth this year will be the highest in the world, based on a low base of last year, that will further extend into the following year. And even there India will be among one of the fastest-growing economies.

She also talks about other counties in the emerging market areas with record high growth rates. She sees a different picture in different regions in terms of the growth rate of the progressing countries. She mentions that the developed world is also set to catch up because their base is very high. But the growth that they experience or show off will not near double-digit but will unequivocally add up a considerable surge to the global growth.

She emphasizes alteration in the strategies being devised by various nations whilst the pandemic by saying that the ways in which the countries are devising strategies to propose a plan of action for their growth is going to be conspicuously contrasting from what it was earlier, prior to the pandemic.

She further significantly highlights the prevalence of increased purchasing power in the country by saying that India’s demographic dividend is not a dividend without reason It is a dividend that possesses immense purchasing power ability, and hence people travelling from other destinations to invest and produce in India will appreciably have a captive market.

Mrs. Sitharaman also foregrounds about India’s agricultural superiority by mentioning that the food security of many countries depends on imported food, and many of them in the middle east depend on India for their basic food materials. Therefore, India will be one of the largest exporters of food and food processed materials in the coming years.