India to be the third largest economy by 2027-28: Piyush Goyal

New Delhi, Apr 12: India is expected to overtake Japan as the third-largest economy in the world by 2027, according to Union Minister Piyush Goyal, who recently spoke to the Indian diaspora community in France. India’s economy, which is currently the fifth-largest, has been expanding at an average annual pace of about 7% during the past ten years due to factors including a burgeoning middle class and a focus on innovation and entrepreneurship.

 

 

 

India’s export performance, which hit USD 750 billion in its 75th year of independence, was noted by Piyush Goyal as proof of the country’s rising trend. In addition, he emphasized India’s function as a trusted partner, a food source, and a pharmacy for the globe, with Prime Minister Modi’s leadership seen as crucial in addressing today’s difficulties.

 

 

 

India’s commitment to its relations with France was reaffirmed by Goyal, who also urged the Indian diaspora to play a significant role in advancing this alliance. India, which has set an ambitious goal of reaching a 30-35 trillion dollar economy by 2047, the year it celebrates 100 years of independence, faces many obstacles, including infrastructure gaps and income inequality, but it also has a thriving startup scene and a strong commitment to sustainable development.