Bhagwati also praised Prime Minister Narendra Modi's leadership. He stated that Modi took charge at the right time when India was being held back by inward-looking policies.

Prime Minister Narendra Modi on Friday addressed the third Kautilya Economic Conclave and referring to the Russia-Ukraine and West Asia conflicts, said that these regions are very important for the global economy.

All these institutions are saying that despite global uncertainties, India will grow at more than 7 per cent. We have confidence that we will do even better,” PM Modi said during his address at the third edition of the Kautilya Economic Conclave.