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India is on track to become the third largest economy, according to Finance Secretary T.V. Somanathan. He stated that India's growth rate is faster than the top five global economies. Prime Minister Narendra Modi also highlighted India's status as the fastest growing major economy at the BRICS Summit. Rating agency S&P Global expects India's GDP to grow 6.7% annually, reaching $6.7 trillion by FY31. Somanathan emphasized the importance of improving tax collection and increasing women's participation in the workforce. The Indian diaspora can support India through remittances, investments, and philanthropy.
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