Strong fundamentals in place for a $55 trillion economy
New Delhi : ASSOCHAM organized a special session on ‘Bharat@100: Leveraging unprecedented opportunities’ Piyush Goyal, Hon’ble Minister for Commerce & Industry, Government of India graced the event as the Chief Guest. A book titled India@100: Envisioning Tomorrow’s Economic Powerhouse authored by Dr K V Subramanian, Executive Director, IMF was launched by Commerce and Industry Minister.
Speaking at the event, Piyush Goyal, Hon’ble Minister for Commerce & Industry, Government of India said, “We have the ability, we have the willingness, the desire, we have the talent, skill and capability. As policy makers we have the intent and are deeply committed to making India a developed nation by 2047. The focussed efforts towards self-sufficiency in defence, electric mobility and enhancing the quality of our manufacturing setups combined with enhanced transparency and technology adoption will help us have a stronger currency and a stronger macro-economy to get us to a $55 trillion economy.”
“Our economy will be at $5 trillion in the next 3-3.5 years making us the third largest economy in the world. As we increase our shipping, focus on electric mobility and become sufficient in defense, we are looking at a rupee appreciation. We can replicate, if not better, the China story between 2000-20.” added the minister.
Krishnamurthy Subramanian examines this once-in-a-century opportunity that is knocking on India’s doors in India@100: Envisioning Tomorrow’s Economic Powerhouse. India@100 makes a strong case that India is at a turning point that cannot be disregarded, with a daring vision based in Indian realities. Four major pillars—the macroeconomic emphasis on growth, the microeconomic focus on social and economic inclusion, the vision of ethical wealth creation, and the strategy of a virtuous cycle sparked by investment—are examined by Subramanian through meticulous research and perceptive analysis. He thoroughly discusses the options for policy and the areas in need of reform within each pillar.
India@100 effortlessly ignites the reader’s imagination and inspires a collective drive towards a future where India emerges as a dominant economic force. This is an invaluable book for anyone interested in the rise of the Indian economy.
Addressing the august gathering Deepak Sood, Secretary General ASSOCHAM said, “The significant strides that the country has made in the preceding years is not by chance, it’ is by design, and the last 10 years are a testament of that. India is a highly resilient economy. A few years ago, becoming the 5th largest economy was our dream and today we are talking about becoming the 3rd largest economy in the world and there’s a lot of work that needs to go in. India has successfully earned global trust and we did this by leveraging our demography, our large market and therefore building the right capacities for making things happen.”
