India Set to Become $5 Trillion Economy by 2027: Piyush Goyal

New Delhi, Jun 26 (KNN) India is confidently moving towards becoming a USD 5 trillion economy by 2027, according to Union Commerce and Industry Minister Piyush Goyal.

Speaking at a webinar hosted by the Merchants’ Chamber of Commerce and Industry (MCCI), Goyal expressed optimism about India soon emerging as the third-largest economy in the world.

He emphasized that the government, under Prime Minister Narendra Modi’s leadership, is committed to transformative changes rather than gradual progress.

“Our vision is focused not only on economic growth but on inclusive, sustainable, and honest development,” Goyal said.

Highlighting India's improved global standing, the minister noted that the country has transitioned from being part of the "fragile five" to now ranking among the world's top five economies.

He credited this progress to strong macroeconomic fundamentals, a robust banking system, and record-low inflation levels at around 3 per cent.

Goyal underlined the collective effort of the government, industry, businesses, and the Indian population in working towards the goal of 'Viksit Bharat 2047' — a fully developed India. He also praised the principles of Seva, Sushasan, and Navachar — Service, Good Governance, and Innovation — as the pillars guiding India’s economic journey.

He commended MCCI’s 124-year legacy and called it a vital bridge connecting the government and industries. “MCCI can be seen as Mobilizing Commerce and Connecting Industries,” he said.

Concluding his address, Goyal remarked, “History shows that great economies are built in turbulent times. This is India’s moment, and we must not let it slip.”

(KNN Bureau)