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Expressing his hopes over India’s economic growth, Union minister Piyush Goyal has said that the country would become the third largest economy in the world (from fifth position at present) in the next five years and by 2047 could be at the level the United States of America is at present. He added the 1.4 billion people of India are going to make the economy a $30-40 trillion one.

Regarding India not joining the Regional Comprehensive Economic Partnership (RCEP) trade deal, he said ‘It was disaster in the making as we were entering a free trade agreement without a court of appeal, no democracy or rule of law. Except a handful of people, I don't remember anyone saying we should join RCEP’.

On Free Trade Agreements (FTAs), he said ‘we did the fastest ever FTA in the history of the world, the India UAE Agreement having been completed in 88 days. We also completed a fast FTA with Australia. That is the enthusiasm the world is demonstrating towards working with India. We have negotiations going on with Israel, Canada, EU, UK and GCC. Russia and its partner countries of EAU too want to fast-track negotiations with India.’