India will be the fastest growing major economy in the world this year. We will get at least 7% growth: External Affairs Minister on Riyadh visit

Mr. Jaishankar arrived September 10 for a three-day visit to Saudi Arabia to discuss ways to further strengthen relations between the two countries.

India has made powerful efforts to grow its economy and emerge as a higher-income country, External Affairs Minister S. Jaishankar has said, expressing hope that it will be the fastest growing major economy in the world this year with at least 7% growth despite the challenges posed by the Ukraine crisis.

Mr. Jaishankar arrived September 10 for a three-day visit to Saudi Arabia to discuss ways to further strengthen relations between the two countries. It is his first visit to Saudi Arabia as External Affairs Minister.

"Began my visit to Saudi Arabia with interaction with our community. Appreciated the contribution of our diaspora in facing national challenges. Spoke to them about our country’s resilience, especially during the time of the COVID-19 and national transformation that is underway in India," Mr. Jaishankar tweeted.

Addressing the Indian community here on Saturday, Mr. Jaishankar said: "India thinks about the ways in which it can change its credit, banking, education and labour policy." He said that India has made powerful efforts to grow its economy and move towards becoming a higher-income country.

"A lot of this required a vision, prudent management of our fiscal resources," he said.

"Many big reforms have taken place and we can see the result of that in two very interesting developments. In the year ending March 31, 2021 we have posted the highest export that we have ever done. Our total exports were USD 670 billion.

Trade in goods stood at USD 400 billion”, he said.