NEW DELHI: Union home minister Amit Shah has asserted that India is on track to become the worldโs third-largest economy by 2027, and hailed Indiaโs 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 โthe beginning of Amrit Kaalโ.
Shah, Indiaโs second most-powerful person, patted his governmentโs back for successfully hosting prestigious events like the G20 summit, launching ambitious missions to the Moon and the Sun, and the implementing Womenโs 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 Indiaโs 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 Indiaโs 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 โTeam Indiaโ concept or cooperative federalism for the countryโs growth, a concept championed by Prime Minister Narendra Modi. He said that the government and the industry must work together to achieve Indiaโs economic goals.
