Home Minister Amit Shah on Saturday, 30 November, expressed hope that by 2024, India would become a $5 trillion economy and be placed among the top five global economies.
India is a global investment destination and the industry should not lose confidence simply because of temporary growth slowdown, the minister noted.
The last five years were of the detoxification of the economy and in the next five years, a series of reforms will be taken to make it one of the most powerful economies of the world, Shah said.
India is already a destination of global companies due to its huge market and FDI is at record level today, the minister said.
"In 2014, in the list of world economy, we stood at 11th with the size of economy at $2 trillion. And after five years, today we have moved from 11 number to 7 and have reached $2.9 trillion and I have full confidence that by 2024, we will achieve the target of $5 trillion," he said in Mumbai at an event of the Economic Times.
On ease of doing business ranking, he expressed confidence that India's rank will be within top 30th before 2024.
At the event, the home minister also explained the government’s decision of not joining the Regional Comprehensive Economic Partnership (RCEP). According to him, this was a hard decision the Modi government had to take in the interest of the Indian Industry, as it already has a Free Trade Agreement (FTA) with China, Australia and New Zealand.
Shah also assured that projects such as Make in India and Start-up India will scale new heights in years to come, reported news agency ANI.
(With Inputs from ANI & PTI)
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