India is firmly on track to become a 5 trillion US dollar economy by 2027, despite global turbulence, driven by a collective national effort, says Union Minister Piyush Goyal at a virtual session organised by the Merchants’ Chamber of Commerce and Industry

Union Minister of Commerce and Industry Shri Goyal stated that the government under Prime Minister Narendra Modi has focused on quantum change, not incremental progress and it focused not only on growth, but on inclusive, sustainable, honest growth.

Union Minister of Commerce and Industry, Shri Piyush Goyal said this while speaking at a webinar hosted by the Merchants’ Chamber of Commerce & Industry (MCCI) on ‘India’s March Towards a $5 Trillion Economy: Navigating Global Challenges’.

Commerce and Industry Minister said that his government has focused on achieving growth that is calibrated for the Indian story and that believes in Seva, Sushasan and Navachar —  Service, Good Governance and Innovation.

Shri Goyal stated that India is well on track to achieve a 5 trillion dollar economy and that the expectation is to reach this milestone within the next three years. “By 2027, we hope to become the third largest economy in the world,” he said. He added that all stakeholders — government, business community, industry, trade, and 140 crore Indians — are deeply aligned with the Prime Minister’s vision for Viksit Bharat 2047.

The Minister highlighted that MCCI will continue to play a very important role during Amrit Kaal in achieving this goal. He said that such dialogues help the government better understand what needs to be done to support industries, even in the face of global volatility, turbulence, and uncertainty.