India is on the track to becoming a USD 30 trillion economy in the next 30 years on the back of strong GDP growth, said Commerce Minister Piyush Goyal on Monday.

He made the statement during an event hosted by the Ficci Ladies Organization. He said India's economy is currently worth USD 3-3.5 trillion and will soon reach USD 5 trillion.

"As we progress from a USD 5 trillion economy to a USD 30 trillion economy in the next 30 years, we are well on our way. It does not require any rocket science. All that is required is a knowledge of the strength of our demographic dividend, the power of youth, and the power of democracy, all of which India proudly represents "He said.

He went on to say that with a compound annual growth rate of 8%, the USD 30 trillion economy would be reached sooner or later. The minister said  that women will play a significant part in India's prosperity and that there will always be room for them at the top table.

On Draupadi Murmu taking over as President of India on Monday, he stated that she has battled greatly and that her ascension as the country's head is a source of pride not only for tribals but for everyone.

Murmu, India's youngest president at 64 years old and the first born after independence, took the oath of office in the name of God, promising to "preserve, safeguard, and defend the Constitution and the law."

The modest Murmu, catapulted into the presidential spotlight, is thought to be extremely spiritual and a keen practitioner of the Brahma Kumaris' meditation practises, a movement she adopted after losing her husband, two boys, mother, and brother in the six years between 2009 and 2015.
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