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India on path to become $30 trillion economy in next 30 years: Piyush Goyal

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India is on the path to become a USD 30 trillion economy in the next 30 years on the back strong GDP growth, said Commerce Minister Piyush Goyal on Monday.


India is currently USD 3-3.5 trillion economy and soon will achieve USD 5 trillion, he said while addressing an event organised Ficci Ladies Organisation.


“As we move to a USD 5 trillion economy…we are well poised on track to aspire to be a USD 30 trillion economy in the next 30 years. It doesn’t need any rocket science. All it needs is understanding that the power of our demographic dividend, the youth power and the power of democracy, which India proudly represents,” he said.


He further said that at a Compounded Annual Growth Rate of 8 per cent, the goal of USD 30 trillion economy would be achieved sooner or later.


The minister said that women would play an important role in the growth of India and there is always space for them on the high table.


On Draupadi Murmu taking over as President of India on Monday, he said, she has struggled a lot and her elevation as the head of the country is a matter of pride not only for tribals of the country but for everyone.


Murmu, India’s youngest president at 64 and the first to be born after Independence, took oath of office in the name of god to “preserve, protect and defend the Constitution and the law”.


She was administered oath as the 15th President of India by Chief Justice of India N V Ramana at the historic Central Hall.


Catapulted into the presidential spotlight, the unassuming Murmu is believed to be deeply spiritual and a keen practitioner of the meditation techniques of the Brahma Kumaris, a movement she embraced after she lost her husband, two sons, mother and brother in the just six years between 2009-2015.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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India is on the path to become a USD 30 trillion economy in the next 30 years on the back strong GDP growth, said Commerce Minister Piyush Goyal on Monday.


India is currently USD 3-3.5 trillion economy and soon will achieve USD 5 trillion, he said while addressing an event organised Ficci Ladies Organisation.


“As we move to a USD 5 trillion economy…we are well poised on track to aspire to be a USD 30 trillion economy in the next 30 years. It doesn’t need any rocket science. All it needs is understanding that the power of our demographic dividend, the youth power and the power of democracy, which India proudly represents,” he said.


He further said that at a Compounded Annual Growth Rate of 8 per cent, the goal of USD 30 trillion economy would be achieved sooner or later.


The minister said that women would play an important role in the growth of India and there is always space for them on the high table.


On Draupadi Murmu taking over as President of India on Monday, he said, she has struggled a lot and her elevation as the head of the country is a matter of pride not only for tribals of the country but for everyone.


Murmu, India’s youngest president at 64 and the first to be born after Independence, took oath of office in the name of god to “preserve, protect and defend the Constitution and the law”.


She was administered oath as the 15th President of India by Chief Justice of India N V Ramana at the historic Central Hall.


Catapulted into the presidential spotlight, the unassuming Murmu is believed to be deeply spiritual and a keen practitioner of the meditation techniques of the Brahma Kumaris, a movement she embraced after she lost her husband, two sons, mother and brother in the just six years between 2009-2015.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

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