India's Path to a USD 5 Trillion Economy by 2027: A Vision for 'Viksit Bharat'

Union Commerce and Industry Minister Piyush Goyal expressed confidence that India is on track to achieve a USD 5 trillion economy by 2027, despite facing global economic challenges. Speaking at a virtual session by the Merchants' Chamber of Commerce and Industry, he credited this progress to the collective national effort and robust leadership under Prime Minister Narendra Modi.

Goyal praised the government's economic reforms over the last decade as transformational, not incremental. He pointed out that India has moved from being part of the 'Fragile Five' to becoming one of the top five global economies, supported by significant foreign exchange reserves and a healthy banking sector.

The minister underscored India's potential in AI and emerging technologies and highlighted the strategic free trade agreements with developed economies, aimed at boosting opportunities for Indian exporters. He stressed the importance of unity and innovation in navigating global volatility and encouraging businesses to scale, innovate, and expand into new markets.

(With inputs from agencies.)