Economic slowdowns won’t affect India for now: VP Venkaiah Naidu

Vice-President M Venkaiah Naidu said that the whole world is closely monitoring Indian’s stability and its vibrant democracy.

Published: 01st September 2019 11:05 AM  |   Last Updated: 01st September 2019 11:05 AM   |  A+A-

Vice President Venkaiah Naidu

Vice President Venkaiah Naidu (File Photo | EPS)

By Express News Service

HYDERABAD: India’s target to achieve a $ 5trillion-economy has caught the attention of global investors, said Vice-President M Venkaiah Naidu while addressing the Deccan Dialogue, a conference on Economic Diplomacy in the Age of Disruptions, at the Indian School of Business in Hyderabad on Saturday.

He said that the whole world is closely monitoring Indian’s stability and its vibrant democracy. “I have visited around 22 countries in the recent times and through interactions, I found how enthusiastic they are all to be a part of India’s growth, aided by the reforms initiated by the Narendra Modi Government,” he said.

The vice-president also expressed confidence that the ensuing economic recession in the world will not have any impact on India as the government is taking all necessary preventive steps. “21st century is being hailed as ‘The Asian Century’ and India has a key role to play in promoting peace, security and development in Asia and beyond. Enhanced regional connectivity, both physical and digital, can boost trade and play a pivotal role in bringing prosperity and development,” he observed. 

It is important to support the efforts for making global governance more representative by ensuring greater participation of emerging markets and developing countries in global decision-making, he added. For India, with its thriving economy and its young population, he said, there is an immense scope for the development of a multilateral relationship between trade and commerce.

The event, co-hosted by the ISB and MEA, saw the participation of industry leaders, government representatives and diplomats.

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