India Poised to Become Third-Largest Economy by 2027, Says Piyush Goyal

Union Minister of Commerce and Industry, Piyush Goyal, has set an ambitious target for the Indian economy, predicting that it will become the third-largest globally by 2027 and reach a USD 5 trillion economic milestone in the next three years. Goyal made these remarks during a webinar organized by the Merchants' Chamber of Commerce & Industry (MCCI) on the topic 'India's March Towards a $5 Trillion Economy: Navigating Global Challenges.'

In his address, Goyal emphasized the collective effort of the government, businesses, and 140 crore citizens to realize Prime Minister Narendra Modi's vision for Viksit Bharat 2047. He praised India's strategic defense of its interests on the global stage and cited 'Operation Sindoor' as evidence of the country's enhanced international standing, highlighting the safety and security associated with the Indian passport.

Goyal underscored India's transformative economic journey from being categorized as part of the 'fragile five' to becoming one of the world's top five economies. He noted the country's robust macroeconomic foundation, a strong banking system, and inflation levels at a historical low. The Minister concluded by stressing the government's commitment to service, good governance, and innovation, with MCCI playing a crucial role as a bridge between the government and industries.

(With inputs from agencies.)