Our Bureau
New Delhi
The Commerce and Industry Minister of India, Piyush Goyal has made bold claims stating that the Indian economy is on its way to continue growing exponentially. He has ensured that India is on the way to be a $5 trillion economy and the government is expecting it to reach there in the next three years.
Goyal stated that the government is looking to become the third largest economy in the world in the upcoming years taking over Germany ($4.74 trillion) which is currently at third position. The Minister stated that the government, business community, industry, trade and the 140 crore Indians are all supporting the Prime Minister Narendra Modi in his vision of ‘Viksit Bharat 2047.’
The Minister of Commerce and Industry was speaking on ‘India’s March Towards a $5 Trillion Economy: Navigating Global Challenges’ while he was taking a webinar hosted by the Merchants’ Chamber of Commerce and Industry (MCCI).
He stated that the government is looking more at quantum change and not at incremental growth. He also emphasized that the government is not just focusing on growth rather it is focusing on growth that is honest, inclusive and can be sustained.
“We have a strong macroeconomic foundation. Our banking system is strong and robust, with high ability to lend. Our inflation is among the lowest India has ever seen – down to 3 per cent again,” Goyal claimed in his webinar and stated that India has now moved on from being part of the 5 fragile economies in the world to being the top 5 economies across the globe.
Minister Goyal addressed that this is the time for India to make the most out of the moment and we should not miss this opportunity. He said, “History reminds us that great economies are not built in calm waters. Great economies are built in turbulent seas.”
