Union Minister fo Commerce and Industry Piyush Goyal said that India will become the third-largest economy by 2027. He made his remarks while speaking to the French Indian diaspora. Minister Piyush Goyal is in Paris for the India-France Business Summit, commemorating 25 years of India-France friendship.
We are currently the fifth-largest economy. We will have the third-largest economy in the world by 2027–2028. By 2047, when we celebrate 100 years of independence, India's economy, which is currently around 3.5 trillion dollars, would grow to 30-35 trillion dollars, the Union Minister predicted.
Prior to him Arvind Panagariya, the former head of NITI Aayog, had said that by 2027–2028, India would have the third-largest economy in the world. According to the economist, the economic survey's "narrative paints the story of a considerably stronger economy" than the one that is expanding at a rate of 6.5%. Goyal said that India's exports totaled $676 billion in the previous year. "Our goal was to capture the spirit of youthful, eager Indians. We exceeded USD 750 billion in exports in the 75th year of independence," he continued.
Now, we are establishing ourselves as the go-to nation, the world's pharmacy, the world's food supply, and a reliable partner for other nations. Everyone looks to PM Modi's leadership to address the problems facing the world today, he said.
Goyal stated that India holds the alliance with France in the highest regard. "I'm convinced that everyone here understands that this connection will continue to develop, both in terms of opportunity and friendship. Speaking to the Indian diaspora in Paris, he stated, "You all will play a critical role in advancing our alliance. "Prime Minister Narendra Modi is the most well-liked and admired leader in the world. He is also renowned for his dedication to caring for both India and the rest of the globe. The world looks up to his leadership because we adhere to the philosophy of "One Earth, One Family, One Future," he stated.
He also praised the Indian diaspora, adding that everyone of you represents the "New India," which is defined as "India with capabilities, capacities, competency, and confidence." You are advancing your Karmabhoomi and Matrabhoomi as Rashtradoots.
Goyal urged the Indian diaspora to support Indian culture in France and participate in India's development process. He declared, "With your help, India would make leaps towards progress and development in the Amrit Kaal. He invited them to be a part of this vision and be with India on this journey, saying, "Yahi Samay Hai, Sahi Samay Hai."
The India-France Business Conference, honouring 25 years of friendship between the two countries, will be co-chaired by Goyal and Olivier Becht, France's Minister Delegate for Foreign Trade, Attractiveness, and French Nationals Abroad, on Tuesday in Paris. Building a green future, cutting-edge technology, defence collaboration, and cooperation in the Indo-Pacific region will all be topics of discussion at this summit.
The Embassy of India in Paris is collaborating with Medef, CII, Business France, and IFFCI to arrange the CEO roundtable and business summit. More than 400 people have signed up for the business summit and they are incredibly enthusiastic. Minister Goyal will attend a CEOs roundtable and interact with business executives from various sectors in France.
Logistics become centerpiece of India's policy: Piyush Goyal
PM Modi becomes world's most popular leader
G-20 Trade Investment Working Group 3-day meet begins today in Mumbai