ENA Economy 2024-04-05 17:05:53 <p><span style="font-size:14px"><strong>New Delhi, Apr 5 (KNN)</strong> Prime Minister Narendra Modi has set his sights on an ambitious economic transformation plan for India by the year 2030.</span></p> <p><span style="font-size:14px">He has directed officials to draft a blueprint aimed at nearly doubling the size of India's economy to a staggering USD 6.69 trillion in nominal terms from the current level of USD 3.51 trillion.</span></p> <p><span style="font-size:14px">The BJP government's vision to radically expand the economy and exports over the next six years was revealed in an official document accessed by Reuters.</span></p> <p><span style="font-size:14px">While the document lacks specific details on implementation strategies, it serves as the foundation for high-level discussions within the government.</span></p> <p><span style="font-size:14px">Achieving self-reliance for India's economy within the next decade has been a recurring goal emphasised by Prime Minister Modi.</span></p> <p><span style="font-size:14px">Having recently surpassed the UK to become the world's fifth-largest economy in 2022, Modi has now vowed to propel India to the third-largest economy globally during his potential third consecutive term in office.</span></p> <p><span style="font-size:14px">Modi aims to raise India's per capita income to USD 4,418 over the next six years, a significant increase from the current level of around USD 2,500.</span></p> <p><span style="font-size:14px">A key pillar of Modi's 2030 vision is an aggressive push to boost India's exports of goods and services. The document stresses plans to more than double exports from the current USD 700 billion to a staggering USD 1.58 trillion by 2030.</span></p> <p><span style="font-size:14px">This expansion could potentially increase India's share in global trade to over 4 percent, up from the present levels.</span></p> <p><span style="font-size:14px">In addition to economic goals, the document also outlines focus areas for social development and human capital.</span></p> <p><span style="font-size:14px">These include increasing the literacy rate to 82 per cent by 2030 from the current 78 per cent, bringing down unemployment to less than 5 per cent from 8 per cent, and boosting labour force participation to over 50 per cent from the existing 46 per cent.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 37305 https://knnindia.co.in/news/newsdetails/economy/usd-669-tn-economy-usd-158-tn-exports-modis-ambitious-vision-for-2030 2024-04-05 17:05:53 knnindia.co.in