Agartala: Dec 14. At a time when the world is reeling under the pressures of an economic recession, rising inflation, and geopolitical conflicts, India has emerged as a beacon of economic resilience. The nation’s Gross Domestic Product (GDP) growth rate has surprised global observers, outperforming major economies and setting an example for sustainable growth.
In the fiscal year 2023-24, India recorded an impressive GDP growth rate of 8.2%, far surpassing other leading economies. Comparatively, China grew at 5.2%, the United States at 2.5%, Russia at 3.6%, and Japan at 1.9%. European nations lagged significantly, with the United Kingdom growing by a mere 0.1% and Germany at 0.2%. Projections for 2024-25 indicate sustained momentum, with India’s growth rate expected at 7.0%, ahead of China’s 5.0% and the United States’ 2.6%.
Agriculture and Power Minister Ratanlal Nath highlighted this achievement, stating, “The entire world is astonished by India’s growth. Under the visionary leadership of Prime Minister Narendra Modi, India has set a benchmark for economic development that even developed nations envy.”
Tripura has emerged as a standout performer among Indian states, recording a Gross State Domestic Product (GSDP) growth rate of 14.21% in 2023-24. Minister Nath, in an exclusive interview in Agartala, emphasized, “While many states are struggling to achieve double-digit growth, Tripura has surpassed them all. Our current GSDP stands at ₹91,224 crores, and we are confident of crossing the ₹1 lakh crore mark next year.”
The state’s economic progress is attributed to robust performance across three key sectors: Primary Sector (Agriculture and Allied Activities): Growth of 47.87%; Secondary Sector (Industry and Manufacturing): Growth of 9.34%; and Tertiary Sector (Services): Growth of 42.79%.
Minister Nath noted, “Our focus now is to advance the industrial and manufacturing sectors. If these sectors grow in harmony with agriculture and services, Tripura will surpass even the largest states in the country.”
The per capita income in Tripura has risen sharply, from ₹1,00,444 during the Left regime to ₹1,77,723 in 2023-24. Nath attributed this to policy alignment with national priorities, saying, “Prime Minister Modi’s vision has transformed the development trajectory of our state and the nation. His strategies have shown the world how to stay committed to progress.”
India’s stellar performance places it among the top ten countries for GDP growth in 2023-24. Minister Nath expressed optimism, stating, “If this trend continues, India will lead the global GDP rankings by 2030.”
With its remarkable achievements, both nationally and in states like Tripura, India is not just weathering global economic storms but charting a course for inclusive and sustained growth.