AMN / WEB DESK
Former HDFC Chairman Deepak Parekh has highlighted India’s projected growth rate of 6.4 per cent for 2025, which stands at twice the global average.
Speaking at the event ‘India’s Roadmap to 2030 ’ organised by Indian Peoples Forum: Business and Professional Council- UAE, Mr. Parekh said that the growth is expected to rebound to 6.7 percent in the second half of the fiscal year. Parekh identified key areas requiring attention, including the need for affordable housing incentives and infrastructure development.
Mr. Parekh also expressed confidence in India’s banking sector, citing manageable non-performing assets and improved profitability among public sector banks. He also noted the growing sophistication of India’s financial markets, with domestic institutional investors now outpacing foreign institutions and India accounting for 33 percent of global Initial Public Offering, IPOs in 2024.
The Consul General of India at Dubai, Shri Satish Sivan underscored the strengthening India-UAE relationship, pointing to bilateral trade reaching 85 billion US dollars and the growing Indian diaspora in UAE, which now exceeds 3.9 million people. He highlighted several milestone achievements, including new energy agreements and the implementation of digital payment systems between the two nations.
President of the Indian Peoples Forum UAE, Shri Jitendra Vaidya emphasized India’s current position as the world’s fifth-largest economy with a GDP of 3.89 trillion US dollars, highlighting the nation’s digital transformation and renewable energy initiatives. Under Prime Minister Narendra Modi’s leadership since 2014, he noted, India has significantly expanded its global influence.