What’s in the news?
- Union Minister of State for External Affairs Rajkumar Rajan Singh said, India’s GDP is currently ranking fifth on the world economy index, which will go up to fourth by this year’s end and overtake the position of Germany.
- He said this after the inauguration of the G-20 Business Conference (B20) at Aizawl in Mizoram today.
- The theme of the conference was India Initiatives in the North East – Conference on opportunities for multilateral business partnerships.
- India has accorded the highest priority to create an enabling environment for innovation and modernisation. Unified Payment Interface (UPI) is propelling India to become home to the highest number of cashless transactions in the world and is showing the way to many other countries.
- The government has taken various initiatives to propagate the development of the startup ecosystem in the country, making it the third largest in the world. There are more than 92,000 recognised startups in the country today including more than 1000 startups from the North Eastern States.