New Delhi– India is firmly on course to achieving a $5 trillion economy within the next three years, Commerce and Industry Minister Piyush Goyal said on Tuesday, expressing confidence that the country could emerge as the world’s third-largest economy by 2027.
Speaking during a webinar organized by the Merchants’ Chamber of Commerce and Industry (MCCI) on the theme “India’s March Towards a $5 Trillion Economy: Navigating Global Challenges,” Goyal emphasized that all stakeholders — the government, business community, industry, trade, and India’s 1.4 billion citizens — are united in advancing Prime Minister Narendra Modi’s vision of Viksit Bharat 2047.
He underscored that the Modi government is not focused on incremental progress, but on driving transformational change that is inclusive, sustainable, and built on integrity.
“We have moved from being part of the ‘Fragile Five’ to one of the world’s top five economies,” Goyal said, highlighting India’s macroeconomic resilience. “Our banking sector is strong and well-capitalized, inflation is under control — back down to around 3 percent — and we have a solid foundation for continued growth.”
The minister also pointed to the government’s guiding principles of Seva, Sushasan, and Navachar — Service, Good Governance, and Innovation — as key pillars of India’s development strategy.
He praised the role of MCCI in facilitating dialogue between the government and the business community, noting that such engagements are vital during the current period of global uncertainty and economic volatility.
“History tells us that great economies aren’t built in calm waters — they’re built in turbulent seas,” Goyal said. “This is India’s moment, and we must not let the opportunity slip by.”
Goyal also lauded MCCI for its 124-year legacy of connecting industries and enabling commerce. “MCCI can truly be seen as ‘Mobilizing Commerce and Connecting Industries’ — a bridge between the government and economic stakeholders,” he said. (Source: IANS)
