'India is the shining star of the global economy,' says BJP MP Jayant Sinha at BT India@100

BJP's Jayant Sinha and Congress leader Abhishek Singhvi on Saturday shared their perspective on India's journey towards a monumental $40-trillion economy by 2047. Sinha talked about government policies, increased foreign investment, and other factors that make India the best-placed economy in the world. 

Speaking to Business Today Executive Director Rahul Kanwal at the BTIndia@100 Summit in New Delhi, the former union minister said India is the best-positioned economy on the planet right now and it can be confidently said that “we are the shining star of the global economy.”

Countering the claims made by Sinha, Congress spokesperson Abhishek Singhvi said, "We are a lower middle-income country. We are ranked at 132 out of 191 nations in the Human Development Index. We need to overcome this to become a developed nation by 2047." He further claimed that India is still behind Bangladesh and even Rwanda in the Hunger Index. "We need to overcome these obstacles to become a developed nation," he added.

Jayant Sinha, while speaking about the growing Indian economy, said that by demonetisation and GST, his government had formalised the economy, and the country was enjoying the benefits of UPI. "The world is praising our digital infrastructure."

Talking about the government policies regarding trade, Sinha said that through the very progressive PLI scheme, they are driving growth in manufacturing. "We will make sure that we have a rock-solid, well-functioning constitutional democracy,” he added.

Abhishek Singhvi said that India's share of world manufacturing is 3 per cent compared to China's 28 per cent. "We have become a very good services sector country but not there with manufacturing yet," he added.

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