India will be USD five trillion economy by 2025, 3rd largest by 2027: Amit Shah

CHENNAI: India will become a five trillion dollar economy by 2025 and the third-largest economy by 2027, said Union Home Minister Amit Shah here on Saturday.“In the last eight years, India has achieved the feat of becoming the fifth-largest economy, from the 11th rank it held earlier, leaving Britain behind. Even a recent study conducted by Morgan Stanley predicts that no one can stop the Indian economy from holding the third rank in the world by 2027,” Shah said at the platinum jubilee celebrations of India Cement in Chennai.

Stating that the Centre has introduced a number of policies to boost economic growth, he said, “Be it in the space sector, drone sector or making India the hub of defence manufacturing, Prime Minister Narendra Modi has brought about major changes in the existing policies.”

He added that efforts taken by the Union government have improved the living standards of 60 crore people. “According to IMF estimates, India would rank second in the G20 with a 6.8% growth in GDP in the year 2022-23. It also estimates that in 2023-24, India would rank first in the G20 with 6.1% growth in GDP.”