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He stressed that India’s ongoing growth would help it secure the third position in the world economy by 2027
NEW DELHI: Union home minister Amit Shah has asserted that India is on track to become the world’s third-largest economy by 2027, and hailed India’s rise on the global stage.
Speaking at the 118th Annual Session of the PHD Chamber of Commerce and Industry (PHDCCI) on Thursday, he also described the current phase as “the beginning of Amrit Kaal”.
Shah, India’s second most-powerful person, patted his government’s back for successfully hosting prestigious events like the G20 summit, launching ambitious missions to the Moon and the Sun, and the implementing Women’s Reservation Act.
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Describing India as a bright spot in the global economy, he pointed out that the country has made significant progress in the 75 years since gaining independence, moving from the 11th position in the global economy in 2014 to now being the fifth-largest economy.
He stressed that India’s ongoing growth would help it secure the third position in the world economy by 2027.
Highlighting the economic accomplishments of the Modi government, Shah mentioned India’s GDP surpassing $3.75 trillion, a substantial capital expenditure of Rs 10 lakh crore allocated for economic development, and improvements in recovering bad debts.
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He also noted the remarkable GST collection of Rs 1.87 lakh crore in April and the expected average collection of Rs 1.69 lakh crore for 2023-24.
Shah also emphasized the importance of the “Team India” concept or cooperative federalism for the country’s growth, a concept championed by Prime Minister Narendra Modi. He said that the government and the industry must work together to achieve India’s economic goals.
