When will Indian economy hit $5 trillion mark? Railway Minister Piyush Goyal explains
Union Minister for Commerce and Industry and Ministry for Railways Piyush Goyal has expressed confidence that Indian would be a $5 trillion economy by the year 2025.
Standing in sync with Finance Minister Nirmala Sitharman's announcement to make India a $5-trillion economy by 2025, Union Minister for Commerce and Industry and Ministry for Railways Piyush Goyal has expressed confidence that Indian economy will become a $5 trillion economy by that year. While speaking at the India Day conclave at UK-India Joint Economic and Trade Committee meeting in London, UK, Piyush Goyal said that the Modi 2.0 Government has already made the announcement in the Union Budget 2019 and the Central Government is poised to achieve the goal by the given time frame. Goyal is on a three-day visit to the UK to attend the India Day conclave.
Expressing the Modi 2.0 Government's commitment to making India into a $5 trillion economy Piyush Goyal said, "I am very confident that by 2025 we will be a $5 trillion economy. We are well poised towards achieving that, focused on different aspects of the economy which will take us there," adding, "We have opened up opportunities for single-brand retail and are easing some detrimental clauses of our policy in the next few weeks which will help single brand retail come in a bigger way to our country."
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The Union Minister for railways and commerce and industry Piyush Goyal went on to add that the Modi 2.0 Government has restrictions on multi-brand retail and have requested companies around the world to respect Indian sensitivities on restrictions of foreign investment in multi-brand retail citing, "E-commerce companies coming to India would have to ensure that they stay within the letter and spirit of the law when it comes to multi-brand retail and our policies around that."
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