17-Dec; Defence Minister Rajnath Singh said that India wants to become a superpower for the welfare of the world. Addressing the 95th FICCI Annual Convention in New Delhi today, Singh said, India cannot become a superpower of the world without fulfilling the resolve to build a developed India. He said, India did not want to dominate any country or it has no intention to capture even one inch land of any other country.Singh said when Narendra Modi became the Prime Minister, the country was the ninth largest economy in the world and the size of the economy was about two trillion dollars.He said, today, India’s economy has become the fifth largest economy in the world with a size of three and a half trillion dollars. Singh said, in the last eight years several procedural and structural reforms were done, which has prepared India to take a big leap in the path of development.The Minister said, when the economic condition of the country is prosperous, and then a lot of investment comes from abroad. He highlighted that record Foreign Direct Investment came to the country despite the Corona crisis.Singh said, FDI worth more than 83 billion US dollar has come to India in one year and country’s foreign exchange reserves are more than 561 billion dollars. He said, all the major economies of the world are facing inflationary crisis, however, inflation rate is less in India in comparison to other countries.
