India will be the pillar of economic recovery in the world, know what the minister of Modi government told the reason

Union Commerce and Industry Minister Piyush Goyal on Thursday said that India will be the pillar of global economic recovery as it demonstrated steady growth and emerged as the fastest growing nation among the world’s major economies.

Union Minister of Commerce and Industry Piyush Goyal

Union Commerce and Industry Minister Piyush Goyal on Thursday said that India will be the pillar of global economic recovery as it demonstrated steady growth and emerged as the fastest growing nation among the world’s major economies. Addressing the Bengal Chamber’s Annual General Meeting in a virtual way, he said that if all the stakeholders of the economy work together with a ‘duty sense’, then the national target of $ 30,000 billion economy will be achieved by the year 2047. This will be the year when the country will celebrate the 100th anniversary of its independence.

India to become third largest economy in coming years: Goyal

The Commerce and Industry Minister said that India is already the fifth largest economy in the world and is accelerating its growth to become the third largest economy in the coming years. The vision of the Prime Minister is to make India a developed nation with an economy size of $30,000 billion by 2047. He claimed that all sectors like agriculture, manufacturing and construction are doing very well.

The minister said that India is an island of stability and will be a pillar of global recovery. He said that our economy has shown its strength during the pandemic and is moving ahead on a steady path of growth. Describing India as the best-known place for investment, Goyal said that the government has undertaken several structural reforms, and many reforms are on the way. The minister appealed to the industrialists for private investment and asked them to trust India’s growth story and help achieve the country’s development goals with their greater participation.

Goyal cited McKinsey & Co CEO Bob Sternfels’ remarks and said that it is not India’s decade, it is India’s century, which showcases the country as an important destination for investment. He said India is targeting $2,000 billion in exports by 2030, which is equally divided into goods and services. The minister appealed to the industrialists to help India become a global manufacturing base and invest in tier II and III cities.

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