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Thursday, July 25, 2024

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Mauritius’ Part In India’s Transformative Economic Journey, Highlighted By Dr Sanyal

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The evolving position of India and the journey of the country towards becoming the world’s third-largest economy as well as the participation of Mauritius in this transformative economic journey, were highlighted yesterday in Port Louis, by a Member of the Economic Advisory Council to the Prime Minister of India, Dr Sanjeev Sanyal.

Dr Sanyal was in fact intervening during the opening segment preceding an Interactive Session organised by the Ministry of Foreign Affairs, Regional Integration, and International Trade at the Sir Harilall Vaghjee Memorial Hall. The aim was to further strengthen diplomatic relations between India and Mauritius. The Session moreover focused on the theme ‘Geopolitical Perceptions, Perspectives, and Implications of a Globally Rising India’.

The event was attended by the Attorney General, Minister of Foreign Affairs, Regional Integration and International Trade, Mr Maneesh Gobin, who at the very outset expressed gratitude to Dr Sanyal for visiting Mauritius, emphasising the significance of this collaborative exchange.

Other personalities present included the High Commissioner of India to Mauritius, Mrs K. Nandini Singla; and Officials from the Ministry of Foreign Affairs, Regional Integration and International Trade.

In his address, Dr Sanyal declared that various countries and experts acknowledge India’s increasing global influence and the possible outcomes of its elevation in international politics. He emphasised the dynamic nature of the global environment, noting that history does not merely repeat itself but rather “rhymes.”

Interactive Session with Dr Sanjeev Sanyal

Dr Sanyal also stressed the importance of the multilateral system. For him, despite the challenges, progress is feasible with the collaborative efforts of other nations and, therefore, he invited Mauritius to be a significant part of this revolution.

Furthermore, he highlighted India’s commitment to a rule-based approach but underscored the need for fairness and evolution in global rules. Monitoring these rules, should be a shared endeavour, prompting India’s desire for closer cooperation with Mauritius, he added.

On Wednesday evening, Sanjeev Sanya has been invited by the Indian Business Council, in collaboration with the High Commission of India, to give an enriching speech about the Indian economy and what brings the change. He explained with details and examples how policymakers have been transforming India’s economy.

According to him, as we stand, India is at a major turning point. India is the World’s 5th Economy of the World in US dollar. But if we measure it by purchasing power, India is already the World’s 3rd Economy. The Indian economy is growing at a rate of 6.5% to 7%, making us the fastest-growing major economy in the world. “In about 18 months from now, we will go past Germany’s economy and then as I said by 2027/2028, we’ll go past Japan’s economy,” he said. But we will continue to aspire for higher rate of growth and to improve standard of living etc. We want to be able to sustain a growth rate of 8 %, maintained Sanjeev Sanya. The process of growth in the Indian economy requires continuous reforms to create new opportunities and to sustain growth.

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