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India's Economy Recovered Very Fast After Tough Phase of COVID-19 Pandemic: Modi

The prime minister said that 41 Ordinance factories are being converted into seven corporate entities. (File pic)

The prime minister said that 41 Ordinance factories are being converted into seven corporate entities. (File pic)

Prime Minister Narendra Modi was speaking after a virtual groundbreaking ceremony of a boys' hostel in Surat.

Surat: Prime Minister Narendra Modi on Friday said the recovery of India's economy after the difficult phase of COVID-19 pandemic has been robust. He was speaking after a virtual ground-breaking ceremony of a boys' hostel here. "After the difficult phase of the coronavirus pandemic, the Indian economy has recovered very fast. The world is hopeful about India because of this recovery," the prime minister said.

He added that an international organisation had recently said that India is once again on its way to becoming the fastest growing economy of the world. Modi was apparently referring to International Monetary Fund's report 'Recovery During a Pandemic Health Concerns, Supply Disruptions and Price Pressures', which made a projection that India will grow at 9.5 per cent in the current fiscal. As per the IMF's projection, India will be the fastest growing economy among big countries of the world.

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first published:October 15, 2021, 15:22 IST