World Dark clouds of recession are hovering over the world’s largest economy, America. These concerns have become widespread due to rising unemployment. At the same time, Germany, Europe’s largest economy and the world’s third largest economy after America and China, is also on the verge of recession. Germany’s economy has seen an unexpected decline in the second quarter. On the other hand, China’s condition is also not much better. The Chinese economy is struggling on many fronts. Japan’s economy is also facing many crises at this time. Amidst all this, India is growing at the fastest pace.
India will soon become the third largest economy
At present, India is the fifth largest economy in the world. Above India are Japan, Germany, China and America. Given the poor condition of Japan and Germany, India is soon going to become the third largest economy in the world. PM Modi had recently said that India will become the third largest economy in the world in his third term. Now the Vice President has also said something similar. Vice President Jagdeep Dhankhar said on Wednesday that India’s progress cannot be stopped and the country will become the third largest economy in the world in two years. He said, “We are the fifth largest economy in the world. We will become the third largest economy in the world in two years or even less.”
Vice President advocates economic nationalism
In his address on the occasion of the 10th National Handloom Day, the Vice President expressed confidence that if we think in terms of climate change, it will be optimally used to promote handloom, which is the need of the hour, the country and the planet. Dhankhar said that economic independence is at the core of the Prime Minister’s ‘Vocal for Local’ call. Handloom products are one of its key elements. Making a strong pitch for economic nationalism, Dhankhar said it is fundamental to the country’s “infrastructure economic growth”. This will have three major impacts including saving of foreign exchange, job creation and promotion of entrepreneurship.
We cannot give up economic nationalism
The Vice President said, “I want everyone to respect national interest. Can we sacrifice economic nationalism just for fiscal gain?” Dhankhar said that India is the most populous country in the world and today anyone can say that we are a nation full of possibilities because we are progressing. He called upon the countrymen to pledge to make it a habit to buy handloom products like sarees, kurtas, shawls etc. so that it becomes a ‘fashion statement’, a brand and its sales increase.
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