Stable economy to push India to be among top 3 world economies: Piyush Goyal
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Lauding Prime Minister Narendra Modi’s commitment to recognize the contribution of wealth creators in the private sector and businesses, Union Minister of Commerce & Industry, Piyush Goyal has said that a stable economy will push India to be among the top 3 world economies.
He also noted that the Centre will ensure a better quality of life to the last man at the bottom of the pyramid in the next five years, adding that the government is also focused on efforts to replace the oil economy with electric mobility and making quality the fulcrum in manufacturing.
As per the Commerce Minister, the steps undertaken by the Government such as self-sufficiency in defence, transparency and technology, stronger currency and macroeconomic fundamentals will spur India to become a developed nation. Besides, the Minister expressed hope that government efforts to boost semiconductor manufacturing, domestic shipping and a reduction in imports of oilseeds, rubber and pulses will help the rupee appreciate against the dollar.
While talking about the rapid growth of China, Goyal said that India is at the same sweet spot today as China was between 2000-2020 when they grew at 8% based on a stable economy and low inflation. He said ‘Our political and social problems will eventually reduce, our economy will grow faster and we can replicate China’s growth story’.
