Vineet Jain: India a beacon of hope in a recession-scarred world: Vineet Jain –

This time: At a time when a large part of the developed world is staring at a recession, India is showing a glimmer of hope, Vineet Jain, managing director of The Times Group, said at the Global Business Summit organized by The Economic Times on Friday. In the presence of Prime Minister Narendra Modi, he said that India is now the world’s fifth largest economy and is on its way to enter the top three.

He said, ‘Two years ago, like other countries, India’s economy also contracted. Many wrote obituaries at the time about the growing strength of India’s economy. But, all proved wrong. India has turned around immeasurably under your able leadership and efforts Prime Minister.

Based on strong will and self-reliance, India has become stronger by removing the shadow of superstition.’ Vineet Jain said that India has now focused on the future. Because of that, there is a new excitement and hope about India.

He commented, ‘India will be one of the main engines of global growth in the coming years. I thank the Prime Minister for the way he has combined speed and strength.’ Praising the Prime Minister, he said, ‘You are the champion of building self-reliant India in the country.

Which is creating many champions within India, as well as attracting multinational companies to manufacture them in India. When India took over the presidency of the G20, the Prime Minister embraced the entire world’s humanity through Vasudhiva Kutumbakam.’

Vineet Jain said that India’s controlled response during the escalation of the Russia-Ukraine conflict has highlighted the Prime Minister’s ‘India First’ policy. He said, ‘Today, world leaders are looking to our Prime Minister for help in ending this conflict.’

A 33 percent increase in expenditure has been proposed in this year’s central budget. Vineet Jain said that this proposal of the government will pave the way for increasing private investment.

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