Shaktikanta Das Highlights India’s Growth and Achievements at Bombay Chamber AGM
Mumbai (Maharashtra) [India], June 25: India is on the verge of a major growth shift, according to Shaktikanta Das, Governor of the Reserve Bank of India. Speaking at the 188th Annual General Meeting of the Bombay Chamber of Commerce & Industry, Das highlighted that India is moving towards an 8% GDP growth in a sustained manner. He noted that the average growth over the last three years has been 8.3%, with a projection of 7.2% for the current year.
Das emphasized India’s significant contribution to the global economy, stating that in the last financial year, India accounted for 18.5% of global growth. He attributed this success to structural reforms like the implementation of GST, the Insolvency and Bankruptcy Code, and Flexible Inflation Targeting.
He praised GST as one of India’s biggest structural reforms since 1947, noting its role in avoiding multiple taxes and its successful implementation, with monthly collections reaching between 1.5 to 1.7 lakh crore. Das also mentioned that India is poised to become the third-largest economy, up from its current fifth position.
