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All indicators show a sharp economic recovery: Indian Minister

Recently, foreign exchange reserves have constantly grown from $ 433 billion in September 2019 to $ 638 billion in September of this year.

He told the Indian Energy Forum hosted by CERA Week in New Delhi that FDI inflows in the first four months of the year increased by 62%, higher than last year’s corresponding figures.

“We are encouraged by the release of all the economic indicators that show a very clear and rapid economic recovery. GDP grew by a record 20.1% in the first quarter,” he said.

According to Commerce and Industry Minister Piyush Goyal, all indicators, including foreign exchange direct investment inflows, export growth and gross domestic product, indicate a clear and rapid economic recovery in the country. From September 2019 to September this year, it will be $ 638 billion.

Goyal further said the government has taken some steps to drive growth and investment in the renewable energy sector with 100% FDI through automated routes.

India’s renewable energy program is one of the largest in the world, and as of September 30, 2021, the country’s renewable energy capacity is reportedly 101 GW, he said by a news agency.

“We are aiming for our initial target of 175 GW by the end of 2022,” Goyal said, adding that India will reach 40% of its cumulative electricity capacity from non-fossil fuel-based energy resources by 2030.

Fiber2Fashion News Desk (DS)



All indicators show a sharp economic recovery: Indian Minister

Source link All indicators show a sharp economic recovery: Indian Minister

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