Union Commerce and Industry Minister Piyush Goyal said that India will become the third largest economy in the next five years and will be able to touch the mark of $ 35-40 trillion mark by 2047.
The union minister further said that India will continue to be the fastest growing economy for many decades to come.
“My own conviction about the way India is growing is that we will drive our economy probably closer to 35-40 trillion-dollar economy by 2047. The desire of every Indian is to be second to none,” Piyush Goyal said speaking at the Asia Economic Dialogue 2023 event in Pune on Saturday.
“In the last decade or so, India has been wanting to internationalize and engage with technology and modern way of working. Today, India is clearly recognized as the country of the decade, if not the country of the 21st century. We have already moved from the tenth largest to the fifth largest economy. We today have a young demographic dividend, which is being recognized as our biggest asset”, said the minister.
The minister added that the Russia-Ukraine conflict has had a severe aftermath on the developed world more than the developing countries. For food security and energy security and impacts on inflation, interest rates and growth, it has had a devastating effect on both developed and developing countries.
