GDP Of India: Finance Minister Nirmala Sitharaman has expressed confidence that by the financial year 2027-28, India will be the third largest economy in the world with an economy of 5 trillion dollars and by 2047, India will have a GDP of 30 trillion dollars. Will become a developed economy with. Currently, India's economy is worth 3.4 trillion dollars and America is the fifth largest economy after China, Japan and Germany.
While addressing the Vibrant Gujarat Global Summit 2024 being held in Gandhinagar, Gujarat, the Finance Minister said that India will complete 100 years of independence in 2047, so during this period, there will be a lot of emphasis on sunrise industries i.e. emerging sectors. will be given. He said that during the 9 years of Modi government's tenure, the FDI policy has helped in attracting foreign investment worth 595 billion dollars in the country.
Nirmala Sitharaman said, by 2027-28, there are chances that we will be the third largest economy in the world and our GDP will cross 5 trillion dollars. He said that by 2047 we estimate that we will be able to reach an economy of 30 trillion dollars. He said that Indians have faced the challenges after the Covid pandemic and the recovery in the economy is seen to be very strong. Nirmala Sitharaman said that Gujarat will act as the engine of India on its path to becoming a developed economy by 2047.
The Finance Minister said in the summit that 5 percent of the country's population lives in Gujarat but its contribution to the country's GDP is 8.5 percent. He said that the state is progressing with an annual growth of 12 percent during 2011 to 2014 while the national average is 10.4 percent. He said that India is going to become an in-house semiconductor producer and electric vehicles are being adopted here on a large scale. He has given credit for this to the FDI policy of the government.
Get more latest business news updates