Vladimir Zelensky, the President of Ukraine had a telephone conversation with the Prime Minister of India Narendra Modi.
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The head of state wrote about this on his social networks on March 20.
The President wrote that he had discussed with the Indian leader possible participation in the inaugural peace summit, preparations for which continue in Switzerland.
In addition, Zelensky and Modi spoke about bilateral relations and the upcoming meeting of the Intergovernmental Cooperation Commission in Delhi in the near future.
Ukraine is interested in strengthening trade and economic relations with India, in particular in agricultural exports, cooperation in the aviation industry and trade in pharmaceutical and industrial products. “Ukraine will also welcome the return of Indian students to Ukrainian educational institutions,” Zelensky wrote.
In early March, CNN reported that India had overtaken China to become the fastest-growing major economy in the world.
India’s gross domestic product grew 8.4% in the last three months of 2023 from a year earlier, while it grew 7.6% in the June-September period, the country’s Government Statistics Department said.
That growth rate was the strongest among major economies last quarter, analysts said. Moreover, according to a separate report released on Wednesday by real estate consultancy Knight Frank, the number of wealthy Indians with a net worth of at least $30 million will grow by 50% in the five years to 2028, also the biggest increase in world.
The IMF expects India’s economy to grow 6.5% in 2024, but the Narendra Modi government has a much higher estimate of 7.6%.
Continued growth will quickly propel India into the rankings of the world’s largest economies. Jefferies analysts expect the country to become the world’s third-largest economy by 2027, up from fifth place now.
India is also widely seen as an alternative to China for countries and companies seeking to diversify their supply chains, especially amid worsening relations between Washington and Beijing.
The Modi government is actively courting multinational companies to set up factories in the country, spending billions to upgrade roads, ports, airports and railways.
Some of the world’s largest companies, including Apple (AAPL) supplier Foxconn, are already expanding operations there. And Tesla CEO Elon Musk said last June that his company was committed to investing in India “as quickly as possible.”
The Modi government also approved an investment of more than $15 billion to build three semiconductor factories, a major step toward its goal of making India an electronics manufacturing hub.
Source: Racurs
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.