India fastest-growing economy; can anchor global supply chains and aid China+1, Rajnath Singh says at ET WLF

Defence Minister Rajnath Singh on Friday said India’s economic resilience has made it the fastest growing economy in the world and positioned it as a key player to stabilise global supply chains.

Speaking at the ET World Leaders Forum in Delhi, Singh also called for a new global order based on equality and collaboration, led by India.

“Despite several global economic troubles, we have been resilient. India is the fastest growing economy and everyone is accepting that,” Singh said. He added that the rate of inflation has reduced, further strengthening India’s fundamentals.


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On supply chain disruptions, Singh stressed that many nations have been affected but India can provide stability. “Amid talks of China Plus One, please tell me who can do it but India. India has the capability to stabilise global supply chain disruptions,” he said.

The minister also underlined India’s progress in supporting entrepreneurs. “For entrepreneurship, we have made a conducive environment for them. Today, there is hope around the world for India. A sense of confidence is built in them for India,” Singh noted.

Addressing an audience of global CEOs, Singh appealed to foreign companies to invest in India, highlighting the country’s readiness to provide necessary support.

“I appeal to all foreign companies, we will provide with all necessary clearances. When you make in India, you will make for the world,” Singh said. He added that India does not view growth in isolation. “India doesn’t think development happens in isolation, but many nations are not supporting this ideology,” he noted.

He further said India’s values and inclusivity make it uniquely placed to guide a new world order.

“We have always been in favour of global order. For a long time, we have been in support of global order. In contemporary global times, while it has helped many nations, it has been unequal to others. Inclusive growth has not been possible,” Singh said.

He argued that “new rules based on global order where there is equality, collaboration instead of competition” are needed, and that “this can only happen under the leadership of India.”

Singh also quoted former President Dr. APJ Abdul Kalam: “Where there is righteousness in the heart, there is beauty in the character. When there is beauty in the character, there is harmony in the home. When there is harmony in the home, there is order in the nation. When there is order in the nation, there is peace in the world.”