Commerce and Industry Minister Piyush Goyal has said that in the next two and a half years, India will become a USD 5 trillion economy while addressing media persons at the launch of the E-Commerce Export Handbook for MSMEs at an event in New Delhi.
Goyal said that Prime Minister Modi has rightly guaranteed the nation that India will become the third largest economy in the world by 2027. In fact, in two and a half years, the Indian economy will cross the USD 5 trillion mark, which will itself become a landmark achievement.
“We are slated to cross the USD 5 trillion mark over the next two and a half years and also become the third largest economy in the world,” said the minister.
Responding to a question on the Red Sea disruption, Goyal said that there is no immediate impact reported on trade due to the conflict. “Rice exports have been impacted, but more details on sectors will be known in December’s trade data.”
Goyal said that the new year is coming and we have very ambitious targets for export. “The Indian economy has seen tremendous resilience and outstanding results in terms of our ability to continue to be the fastest-growing large economy in the world, with low inflation and a high rate of growth.”
Earlier, Santosh Sarangi, Director General for Foreign Trade, said that India is one of the biggest users of smartphones and our internet penetration has been very high. “From that point of view, India’s ability to leverage e-commerce is also extremely high. India is well poised to take advantage of e-commerce benefits.”
“This handbook, which was launched today, will help in promoting e-commerce exports. This book encourages MSME to get set and start exporting, he said.