look news india
Washington, August 23 (HS). After arriving in Washington on a four-day visit to America, Defense Minister Rajnath Singh interacted with Indian expatriates. Rajnath Singh said that India and America are strong forces that can ensure peace, prosperity and stability in the world. Describing India and America as natural allies, he said that both countries are destined to become strong partners and this cooperation is constantly growing.
Rajnath Singh asserted that under the dynamic leadership of Prime Minister Narendra Modi, India's stature has grown on the global stage. Earlier, India's views were not taken seriously on international forums, but today the whole world listens attentively. Talking about the progress of the Indian economy, the Defence Minister said that before 2014, India was one of the 'fragile five' countries according to investment firm Morgan Stanley and today it has become one of the 'brilliant five' economies of the world. He quoted the firm's recent report and said that India will become the third largest economy of the world by 2027.
He stressed that the Modi government did not let the country's economy get adversely affected like other countries in dealing with the Covid-19 pandemic crisis. The government has successfully brought 25 crore people above the poverty line. He said that according to the latest data, retail inflation has come down to a five-year low of 3.54 and foreign exchange reserves have reached an all-time high of $675 billion. He said that before the present government came to power, India's defense export was Rs 600 crore, which has now increased to more than Rs 21,000 crore.
In the presence of Rajnath Singh, senior defense officials of both sides signed two major agreements, Security of Supply Management (SOSA) and MoU on Appointment of Liaison Officers. During the visit, Rajnath Singh will hold a bilateral meeting with US Defense Secretary Lloyd Austin. He will also meet US Assistant to the President for National Security Affairs Jake Sullivan. Apart from this, he will chair a high-level roundtable meeting on ongoing and future defense cooperation with the US defense industry. This visit is expected to further deepen and broaden the India-US comprehensive global strategic partnership.