High level of comprehensive testing on a sustained basis has also resulted in bringing down the national positivity rate, it said.
According to Dun & Bradstreet's Country Risk and the Global Outlook report, the pandemic will induce long-term structural changes in the global economy.
He said priority would be given to health workers engaged in COVID-19 management in getting the vaccine.
From merely one in January 2020, India's total tests for detection of COVID-19 have crossed 7.89 crore so far.
India has only 68,622 cases lesser than the Latin American country and could leap ahead by Sunday morning.
Maharashtra accounts for almost 21% recoveries, followed by Tamil Nadu (12.63%), Andhra Pradesh (11.91%), Karnataka (8.82 %) and Uttar Pradesh (6.14%), the ministry said.
According to the Indian Council of Medical Research (ICMR), 7,33,439 samples, the highest so far were tested for COVID-19 on August 11.
According to the Indian Council of Medical Research (ICMR), a cumulative total of 2,21,49,351 samples have been tested up to August 5 with 6,64,949 samples being tested on Wednesday.
The recovery rate among COVID-19 patients has risen to 67.19 percent while the fatality rate has further dropped to 2.09 percent, the data stated.
The COVID-19 death toll in the country rose to 32,063 with 705 fatalities being recorded in a day.
There has been a "sharp increase" of 23,672 COVID-19 patients recovering in the last 24 hours, the highest in a day, according to the ministry's updated data updated at 8 AM.