small modular reactors ( smr ), ai - based defence equipment, biotechnology, rare earths extraction, battery technology, oceanography and space exploration. the start - up ecosystem that encompasses these sectors needs to be promoted to hasten the progress of the country. concluding observations 29. let me now conclude by saying that as india ’ s growth narrative changes from caution and watchfulness to optimism and exuberance, it is now india ’ s time to make a mark in the emerging global economic today, india has the third largest startup ecosystem in the world ( https : / / pib. gov. in / pressreleasepage. aspx? prid = 1913106 ) and is home to more than 99, 000 recognised startups ( https : / / www. startupindia. gov. in / accessed on july 22, 2023 ). india ’ s tech startups raised us $ 18. 2 billion in cy2022 ( india tech start - up landscape report 2022, nasscom and zinnov ), and india added 23 unicorns to its tally this year, the second highest only after the us. 17 india tech start - up landscape report 2022, nasscom and zinnov landscape. a recent media article aptly captures india ’ s potential in an article titled : “ the global economy needs a new powerhouse. india is stepping up ”. 18 the need of the hour is to make concerted efforts in the areas outlined in my speech today and also a few other areas to lay the foundations of this new powerhouse - india - which is destined to grow in size, confidence and inclusiveness. thank you. namaskar. https : / / www. bloomberg. com / news / features / 2023 - 01 - 23 / india - s - 1 - 4 - billion - population - couldbecome - world - economy - s - new - growth - engine # xj4y7vzkg

peter praet : creating stability in an uncertain world speech by mr peter praet, member of the executive board of the european central bank, at the conference & quot ; brexit and the implications for financial services & quot ;, jointly organised by suerf and hosted by ernst & amp ; young, london, 23 february 2017. * * * resilient recovery in the euro area the economic recovery in the euro area is continuing at a moderate, but firming, pace, and is broadening gradually across sectors and countries. real gdp growth has expanded for 15 consecutive quarters, growing by 0. 4 % during the final quarter of 2016 according to the eurostat flash estimate. economic sentiment is at its highest level in nearly six years and unemployment is back to single - digit figures. looking beyond the euro area, the global economy, too, is showing increasing signs of a cyclical upturn. the euro area economy has been resilient in the face of a number of risks and uncertainties at global level. one example of its improving resilience is the fact that domestic demand is now the mainstay of real gdp growth. previously, growth in euro area was closely correlated with the strength of international trade, but that relationship has weakened recently ; last year ’ s growth would not have been possible in view of the lacklustre international conditions. our monetary policy measures have been a key contributor to these positive economic developments. the comprehensive set of measures introduced since june 2014 has worked its way through the financial system, leading to a significant easing of financing conditions for consumers and firms. together with improving financial and non - financial sector balance sheets, this has strengthened credit dynamics and supported domestic demand. the recovery has been accompanied by a broad - based improvement in measures of confidence. measured confidence for industry, construction, services and households is in positive territory, and particularly strong for measures of future expectations. this is in line with the normally high correlation between measures of confidence and economic activity. households and businesses which are confident about the future are more likely to spend and invest than those which are concerned. despite the resilient recovery in the euro area, and strong indicators of confidence across all sectors, measures of political and policy uncertainty have been rising recently, although asset markets are not significantly pricing in tail risks. the recent bouts of uncertainty are a source of concern, and represent a downside risk to the economic outlook. today i would like to discuss the potential impact of uncertainty on