India to Become $5 Trillion Economy by 2027: Piyush Goyal
Union Minister Piyush Goyal expressed confidence that India will achieve the target of becoming a $5 trillion economy by 2027. He emphasized that despite global uncertainties, India’s growth journey will not be derailed. The country's foreign exchange reserves have now reached $698 billion.
India is firmly progressing on its economic path and is set to join the ranks of major global economies. Speaking at a virtual session organized by the Merchants' Chamber of Commerce and Industry (MCCI) in Kolkata, Goyal said that India’s economic policies have undergone revolutionary changes over the last decade.
He added that under the leadership of Prime Minister Narendra Modi, India is not only confronting global challenges but also making historic economic achievements.
India to Achieve $5 Trillion GDP in Three Years
Goyal said India is firmly advancing toward becoming a $5 trillion economy in the next three years. He emphasized that this will be the first major milestone in the journey toward the vision of Developed India 2047. “Big economies emerge during difficult times. Calm waters never make skilled sailors. This is India’s moment,” he stated.
Foreign Exchange Reserves and Inclusive Growth
Describing India’s growth strategy as inclusive, sustainable, and honest, Goyal said the government prioritizes service, governance, and innovation. India’s forex reserves have reached $698 billion, the banking sector has become stronger, and inflation is under control.
He attributed these achievements to visionary policymaking over the past 11 years, reflecting the government's long-term economic planning.