Strong economy, infra driving India's rise: Goyal

India's growth story under the leadership of Prime Minister Narendra Modi rests on three strong pillars - strong macroeconomic fundamentals, modern infrastructure, and improved quality of life, Union commerce and industry minister Piyush Goyal said on Thursday.

- Rajeev Jayaswal

Speaking about the first pillar, he said the government has maintained low inflation, ensured consistent growth, fortified the banking system, and built one of the strongest foreign exchange reserve positions in the world.

With $700 billion in foreign exchange reserves, India is among the top five countries globally in terms of forex strength, Goyal said while addressing the India-Brazil Business Dialogue in New Delhi.

These strong macroeconomic fundamentals provide the threshold for the country to pursue ambitious growth targets and accelerate its development journey, he said.

The meeting was attended by Brazil's Vice President Geraldo Alckmin and defence minister José Múcio Monteiro Filho.