Finance Minister Nirmala Sitharaman on Wednesday said India is expected to overtake Japan and Germany to emerge as the third largest economy in the world by 2027.
Addressing the Indo-Pacific Regional Dialogue here, Sitharaman said India’s economic growth is estimated to be just under 7 per cent during the year, the highest among major economies, despite global headwinds.
The Indian economy is therefore on the right track and is heading towards a bright future, she said.
Amidst supply-chain disruptions and economic turbulence due to contemporary conflicts that impact the Indo-Pacific, irrespective of whether they are occurring in relatively distant Ukraine or in relatively-proximate Israel or Yemen, and despite the palpable tensions prevalent in the South-and East China Sea, the Indian economy stands out as a bright spot, she said.