India's economy would reach $30 trillion in the next 30 years, says Piyush Goel

26 Jul 2022 , 09:28 AM

According to Piyush Goyal, the minister of commerce, India is on track to increase its economy to USD 30 trillion in the following 30 years.

Speaking at an event hosted by the Ficci Ladies Organization, he stated that India’s GDP is presently worth between USD 3-3.5 trillion and would soon reach USD 5 trillion.

“We are ideally positioned to reach a $30 trillion economy in 30 years once we reach $5 trillion. No rocket science is required. All that is required is for them to comprehend the strength of our demographic dividend, the youth, and the force of democracy, which India proudly embodies “he stated.

At a Compounded Annual Growth Rate of 8%, he said, the target of a USD 30 trillion GDP will eventually be reached.