Indian economy at $30trn by 2047: Goyal
Says the country moved from ‘Fragile 5’ to world’s 5th largest economy slot with strong fundamentals
image for illustrative purpose
On Strong Note
- $600-bn forex reserves remained stable in most difficult of times
- Geo-political turmoil, oil price volatility
- Investors preferred to stay in India
- Foreign bankers consider Rupee among safest in the world
New Delhi: Commerce and Industry Minister Piyush Goyal on Friday said that India was poised to become a $30 trillion economy by 2047 with the collective efforts of the government and industry pushing towards an exponential growth rate to achieve a fully developed India.
Addressing the 96th Annual General Meeting of apex business chamber Ficci, the minister said the Indian economy has already moved from being among the ‘Fragile 5’ to the 5th largest economy in the world with strong fundamentals.
He pointed out that the country’s $600 billion in robust foreign exchange reserves have remained stable in the most difficult of times whether it be geo-political turmoil such as the war in Ukraine or the pandemic. Investors have preferred to stay in India and not move out which shows the amount of faith that they have in the country’s economy.
