India On Track To Become $5 Trillion Economy By 2027: Piyush Goyal
New Delhi:
India is well on track to achieve a $5 trillion economy and the expectation is to reach this milestone within the next three years, Commerce and Industry Minister Piyush Goyal has stressed.
By 2027, "we hope to become the third largest economy in the world," he said, adding that all stakeholders - government, business community, industry, trade, and 140 crore Indians - are deeply aligned with the Prime Minister's vision for 'Viksit Bharat 2047'.
The minister stated that the government, under Prime Minister Narendra Modi, has focused on quantum change, not incremental progress and it focused not only on growth, but on inclusive, sustainable and honest growth.
He was speaking at a webinar hosted by the Merchants' Chamber of Commerce and Industry (MCCI) on 'India's March Towards a $5 Trillion Economy: Navigating Global Challenges'.
On India's economic strength, Mr. Goyal stated that the country has moved from being part of the fragile five to becoming one of the top five economies in the world.
"We have a strong macroeconomic foundation. Our banking system is strong and robust, with high ability to lend. Our inflation is among the lowest India has ever seen - down to 3 per cent again," he said.
The minister further said that the government has focused on achieving growth that is calibrated for the Indian story and that believes in 'Seva, Sushasan and Navachar; - Service, Good Governance and Innovation.
He highlighted that MCCI will continue to play a very important role during Amrit Kaal in achieving this goal. Such dialogues help the government better understand what needs to be done to support industries, even in the face of global volatility, turbulence, and uncertainty.
"History reminds us that great economies are not built in calm waters. Great economies are built in turbulent seas," Mr. Goyal emphasised, adding that this is India's time to seize the moment and that the opportunity must not be missed.
He praised MCCI's 124-year journey, calling it a bridge between the government, stakeholders, and industries. "MCCI can be called as Mobilizing Commerce and Connecting Industries, because that is exactly what MCCI does," Mr. Goyal added.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Today
22 minutes ago
- India Today
Who is Zohran Mamdani, the man shaking up NYC politics?
Zohran Mamdani was a state lawmaker unknown even to most New York City residents when he announced his run for mayor back in Tuesday evening, the 33-year-old marked his stunning political ascension when he declared victory in the Democratic primary from a Queens rooftop bar after former New York Gov. Andrew Cuomo the race's ultimate outcome has yet to be confirmed by a ranked choice count scheduled for July 1, here's a look at the one-time rapper seeking to become the city's first Muslim and Indian-American mayor, and its youngest mayor in Mamdani was born in Kampala, Uganda, to Indian parents and became an American citizen in 2018, shortly after graduating from lived with his family briefly in Cape Town, South Africa, before moving to New York City when he was mother, Mira Nair, is an award-winning filmmaker whose credits include 'Monsoon Wedding,' 'The Namesake' and 'Mississippi Masala.' His father, Mahmood Mamdani, is an anthropology professor at Columbia married Rama Duwaji, a Syrian American artist, earlier this year at the City Clerk's Office. The couple, who met on the dating app Hinge, live in the Astoria section of attended the Bronx High School of Science, where he co-founded the public school's first cricket team, according to his legislative graduated in 2014 from Bowdoin College in Maine, where he earned a degree in Africana studies and co-founded his college's Students for Justice in Palestine college, he worked as a foreclosure prevention counsellor in Queens, helping residents avoid eviction, a job he says inspired him to run for public also had a notable side hustle in the local hip hop scene, rapping under the moniker Young Cardamom and later Mr. Cardamom. During his first run for state lawmaker, Mamdani gave a nod to his brief foray into music, describing himself as a 'B-list rapper.''Nani,' a song he made in 2019 to honour his grandmother, even found new life -- and a vastly wider audience -- as his mayoral campaign gained momentum. But 'Salaam,' his 2017 ode to being Muslim in New York, has been cited by critics as proof of his POLITICAL CAREERMamdani cut his teeth in local politics, working on campaigns for Democratic candidates in Queens and was first elected to the New York Assembly in 2020, knocking off a longtime Democratic incumbent for a Queens district covering Astoria and surrounding neighbourhoods. He has handily won reelection Democratic Socialist's most notable legislative accomplishment has been pushing through a pilot program that made a handful of city buses free for a year. He's also proposed legislation banning non-profits from 'engaging in unauthorised support of Israeli settlement activity.'advertisementMamdani's opponents, particularly Cuomo, have dismissed him as woefully unprepared for managing the complexities of running America's largest Mamdani has framed his relative inexperience as a potential asset, saying in a mayoral debate he's 'proud' he doesn't have Cuomo's 'experience of corruption, scandal and disgrace.'VIRAL CAMPAIGN VIDEOS Mamdani has used buzzy campaign videos — many with winking references to Bollywood and his Indian heritage — to help make inroads with voters outside his slice of New York Day, he took part in the annual polar plunge into the chilly waters off Coney Island in a full dress suit to break down his plan to 'freeze' the race was entering the final stretch, Mamdani walked the length of Manhattan, documenting the roughly 13-mile (21 kilometer) trip by posting photos and videos of his interactions along the TikTok videos, he's even appealed to voters of colour by speaking in Spanish, Bangla and other has offered a more optimistic vision, in contrast to candidates like Cuomo, who have largely focused on crime and law and order campaign has been packed with big promises aimed at lowering the cost of living for everyday New Yorkers, from free child care, free buses, a rent freeze for people living in rent-regulated flats and new affordable housing - much of it by raising taxes on the big promises have, unsurprisingly, endeared him to the Democratic Party's liberal secured endorsements from two of the country's foremost progressives, U.S. Rep. Alexandria Ocasio-Cortez, of New York, and Sen. Bernie Sanders of outspoken support for Palestinian causes was a point of tension in the mayor's race as Cuomo and other opponents sought to label his defiant criticism of Israel as Shia Muslim has called Israel's military campaign in Gaza a 'genocide' and said the country should exist as 'a state with equal rights,' rather than a 'Jewish state.' That message has resonated amongst pro-Palestinian residents, including the city's roughly 800,000 adherents of Islam — the largest Muslim community in the an interview on CBS's 'The Late Show' on the eve of the election, host Stephen Colbert asked Mamdani if he believed the state of Israel had the right to exist. He responded: 'Yes, like all nations, I believe it has a right to exist — and a responsibility also to uphold international law.'advertisementMamdani's refusal to condemn calls to 'globalize the intifada' on a podcast — a common chant at pro-Palestinian protests — drew recriminations from Jewish groups and fellow candidates in the days leading up to the his victory speech Tuesday, he pledged to work closely with those who don't share his views on controversial issues.'While I will not abandon my beliefs or my commitments, grounded in a demand for equality, for humanity, for all those who walk this earth, you have my word to reach further, to understand the perspectives of those with whom I disagree, and to wrestle deeply with those disagreements,' Mamdani said.- EndsTrending Reel
Time of India
29 minutes ago
- Time of India
Sangh backed Emergency under Deoras' leadership, says Maha Cong chief Sapkal
Nagpur: Maharashtra Congress president Harshwardhan Sapkal on Wednesday accused BJP of whitewashing its ideological past while launching selective attacks on the 1975 Emergency. On its 50th anniversary, Sapkal pointed to the documented support of then RSS chief Balasaheb Deoras for Emergency and questioned why BJP distances itself from that legacy. "Balasaheb Deoras not only supported the Emergency, but even publicly disassociated the Sangh from the JP movement. Does BJP disown his stand now," Sapkal asked at a press meet. He argued that former premier Indira Gandhi's decision was taken within constitutional bounds to prevent national unrest and contrasted it with what he termed an "undeclared Emergency" under the current regime. Sharply reacting to the allegation, RSS publicity head Sunil Ambekar said thousands of Sangh volunteers were jailed and tortured during the Emergency. "Around 100 of them died in custody or due to the trauma of incarceration. Pandurang Kshirsagar Ji, then head of our national management committee, was among them. The Emergency remains a black spot on Indian democracy," he told TOI. BJP's national vice-president Vinay Sahasrabuddhe told a packed audience in Nagpur that the "satyagraha movement by RSS and leaders like JP Narayan" was a reality check for Indira Gandhi, who was under the impression that people had accepted the Emergency. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Perdagangkan CFD Emas dengan Broker Tepercaya IC Markets Mendaftar Undo "Of the 1.3lakh people who joined the movement, 1.1lakh were from RSS and its affiliates," he said. Defending Indira Gandhi, Sapkal, however, said, "She lifted the Emergency, called for elections, and accepted defeat. Unlike today's govt, she didn't sell off national assets to corporate cronies," he said, referring to the privatisation of ports, airports, banks, mines, and Dharavi land over the past 11 years. Sapkal also criticised a recent govt ad campaign to exclude the national emblem while prominently featuring the 'Sengol'. "This is a symbolic attack on the Constitution. The ultimate goal is to replace it with Golwalkar's bunch of thoughts and create a theocratic state cloaked in cultural motifs," he alleged. Congress has released a special issue of 'Janmanasachi Shidori' featuring counter-narratives from authors like Pupul Jayakar, Kumar Ketkar, and Sena MP Sanjay Raut, aimed at presenting "the truth of the Emergency beyond BJP's propaganda. He further demanded a probe into alleged voter list manipulation in Nagpur South West, Chief Minister Devendra Fadnavis's home constituency.
Time of India
an hour ago
- Time of India
Congress leaders harbouring Emergency mindset: BJP MP
Indore: BJP MP and spokesman Sudhanshu Trivedi on Wednesday accused Congress leaders of harbouring 'Emergency period mindset' that they were above Constitution and their ambitions outweighed national interests. "Congress believes in the objectionable slogan of 'India is Indira and Indira is India.' The same mindset of Emergency remains prevalent in the party even today. And leaders like Rahul Gandhi consider themselves above Constitution," Trivedi said while addressing a press conference to mark 50 years of Emergency. He said that June 25, 1975 marked a black chapter in the history of Indian democracy as fundamental rights of citizens were trampled, freedom of expression was shackled, and voices of the Opposition were crushed. "Congress wants to run the country according to its convenience. If it wins elections, it doesn't have any problem with Constitution, but after any setback in polls, it starts claiming that the Constitution is in danger," he said, referring to Lok Sabha LoP Rahul Gandhi waving the 'red book' in Congress rallies. Trivedi questioned Gandhi's comments during his foreign visits and said, "Months ago, Rahul Gandhi went abroad and asked why the defenders of democracy - US and Europe - were silent on India. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Dark Truth Nobody Talks About! Expertinspector Click Here Undo Calling them defenders… Such utterances show the party's Emergency mindset. Their political ambitions outweigh interests of the nation." To a query, Trivedi said that the West Asia crisis was nothing but a fight between Muslim countries for supremacy. "One pole of this fight is Saudi Arabia, the leader of the Sunni world, and the other pole is Iran, the leader of the Shia world. We hope that a positive spirit will emerge and the crisis in West Asia will be resolved peacefully soon," he said.
