Economic power will make India audible, persuasive: Union Minister Rao Inderjit Singh

NEW DELHI: Union Minister Rao Inderjit Singh on Saturday stressed on the significance of a strong economy and said the economic power is going to make India not only audible, but also persuasive in its dealings with the world.

He was speaking at the National Conference on Competition Law as part of 'Azadi Ka Amrit Mahotsav' celebrations under Ministry of Corporate Affairs. "When India became independent, most of the industry was government owned, public owned... Today the government is not a regulator anymore... we are not inspectors anymore... we are facilitators," the Union Minister of State for Corporate Affairs said.

He further noted that "the economic power is going to make us not only audible, but also persuasive in whatever we wish to implement in this world". According to official data, India's economy grew 8.7 per cent in last fiscal year (2021-22), as against 6.6 per cent contraction in the previous year.

"When the Modi government came to power, India clocked a GDP of 6.4 per cent and today we are running at 8.7 per cent , as per the latest data. If we can achieve this growth post-COVID, we are progressing faster than most economic superpowers... all our neighbours... what can we not achieve in the next 25 years?," he said.

In order to achieve high economic growth he said, "We must all work together... sabka saath... sabka vikas... sabka sahyog...." Singh released a film on the journey of CCI, advocacy booklets in regional languages, and a special issue of CCI's quarterly newsletter, Fair Play, and felicitated winners of the essay and quiz competitions.