Despite COVID crisis, India growing at 7 to 8%: Union Minister Dharmendra Pradhan

Fri Nov 15 13:09:45 IST 2024: ## India’s Economy Booms Amidst Global Crisis: Pradhan

**Hyderabad, November 15, 2024:** Union Minister Dharmendra Pradhan has lauded India’s economic resilience, highlighting the country’s consistent 7-8% growth rate over the past decade despite the global economic downturn caused by the COVID-19 pandemic. Speaking at the Indian School of Business (ISB) in Hyderabad, Pradhan predicted that India is poised to become the world’s third largest economy within the next three to four years.

“While several developed economies suffered significantly due to the COVID crisis, India continued to thrive,” stated Pradhan, emphasizing the country’s strong economic performance. He attributed this success to Prime Minister Narendra Modi’s policy of keeping corporate taxes low, which has encouraged investment and growth.

Pradhan further highlighted India’s impressive digitalization, stating that the nation accounts for 46% of global digital payments, and that over 250 million people have been lifted out of poverty. These achievements, according to the Minister of Education, underscore India’s robust economic foundation and bright future prospects.