Friday, October 11

The President Claims To Make India a $5 Trillion Economy By 2025

The Indian President, Ram Nath Kovind has stated that India is making its best possible efforts to become the world’s third-largest consumer market and an economy of $5 trillion by the year 2025.

At present, the economy of India has been estimated at $2.5 trillion. Before announcing this, the President brought in light the investment opportunities in the country.

The president arrived in India on Saturday from his visit to Greece on the first leg of his three-nation tour. Kovind is the first Indian president to travel to Greece in 11 years and thus while addressing the people of the country, he claimed that his visit is surely going to strengthen the relationship between India and Greece. Kovind gave a special mention to the overseas Indians that are playing a valuable role in improving bilateral relations.

In this regard, the President stated, “We are working towards making India a USD 5 trillion economy and the world’s third-largest consumer market by 2025. According to the World Bank and IMF, our growth rate is going to be high.”

The words of the president convey that India had a very powerful stand in the world in terms of democracy, demographic divided and demand. He feels proud of the overseas Indians and their successes. He stated that there are plenty of opportunities for business, innovation and investment in India at present. India-Greece bilateral trade stands at $530 million and some Indian companies are also present in the infrastructure, pharmaceutical and steel sectors in the central European nation.

“Greece and India presented the ideals of civilization and culture in the ancient world. The relations between the two countries are very old and deep. Greek historian Megasthenes introduced India to the world through his book ‘Indica’,” the president said.

Apart from this, the government is also committed to meet the fiscal deficit target of 3.3 percent for the current financial year.  The government will maintain stability in the economy and meet all economic parameters fixed by the government.