India is on a high growth trajectory since last few years: FM Arun Jaitley

Finance Minister Arun Jaitley on Tuesday said that since last few years Indian economy is on a high growth trajectory. The country aspires to hasten the pace of development, he added. 

The Union Finance Minister was addressing the ongoing two-day long India-Korea Business Summit in New Delhi. 

India is on a high growth trajectory since last few years and the country aspires to hasten the pace of development- FM @arunjaitley

— All India Radio News (@airnewsalerts) February 27, 2018

During the event, the Finance Minister also unveiled the logo of third annual meeting of Asian Infrastructure Investment Bank, which would be be held from June 25-26, this year in Mumbai. 

FM @arunjaitley unveils logo of 3rd annual meeting of Asian Infrastructure Investment Bank to be held in June 25-26, 2018 in #Mumbai.#AIRPics: Sovagya pic.twitter.com/KBnnSQXa8p

— All India Radio News (@airnewsalerts) February 27, 2018

"AIIB has come up well within very short time", he said. 

Earlier, Prime Minister Narendra Modi addresed the event and said that India already has become the third-largest economy by purchasing power and it would soon become the world's fifth-largest economy by nominal GDP. 

"We are also the fastest growing major economy of the world today and a nation with the one of the largest start up eco-systems", he said while addressing the second India-Korea Business Summit 2018 in New Delhi.

India and Korea are the third and fourth largest economies in Asia. 

This year the theme of two-day long India Korea business summit is 'India-Korea: Scaling up the Special Strategic Relationship through Trade and Investments'.

The summit aims to create the framework for an open and action-oriented dialogue between top business leaders and the government officials from India and Korea.

The agenda of the summit would focus on specific sectors where new and immediate opportunities exist for Korean and Indian companies such as Infrastructure, ICT, Power, Smart Cities, Manufacturing and other strategic areas of collaborations.

Besides PM Modi and FM Arun Jaitley, Union Commerce Minister Suresh Prabhu, Minister of Electronics and IT Ravi Shankar Prasad, and the top officials of Ministry of Commerce and Industry would also address the summit.