New Delhi: Commerce and Industry Minister Piyush Goyal on Sunday joined the list of experts and leaders who have believed that India can grow immensely and has the potential to be one of the three largest economies in the world.
According to the minister, India wants to capture the world market in all sectors, and the country would very soon become a $30 trillion economy from the level of $3 trillion at present. The domestic textile industry has huge potential to generate jobs in the coming years and the center is working actively with various countries to finalize free trade agreement (FTA) which will give zero-duty access to India’s textile sector in the world market.
If India grows at 8% every year on a Compounded Annual Growth basis, the economy will double in about 9 years’ time at $6.5 trillion, and in 18 years from now, it could be $13 trillion, said Minister at exporters’ meeting Tiruppur.
At a separate event on Saturday, Goyal said that India’s economy has grown due to its trustworthiness, decisive leadership, and democratic structure favoring transparency at all levels.
Prime Minister Narendra Modi on June 26, while addressing the Indian Diaspora at a community event in Munich, Germany said, “India has shown that democracy can deliver and has delivered. New India is at the forefront of Industry 4.0. India in the 21st century is leading the Industry 4.0 revolution. India is now on an unstoppable path of growth.
(Vinayak)