CII Estimates India To Be 35-45 Trillion-Dollar Economy By 2047: Piyush Goyal

New Delhi: Union Minister for Commerce and Industry Piyush Goyal on Saturday said that as per estimates by Confederation of Indian Industry, India is on the course to become a 35 to 45 trillion dollar economy by the year 2047 making it to the league of developed nations, reported news agency ANI. 

Speaking at an event addressing the business community southern California, Goyal said, “Assessing the impact of the foundational changes and structural transformation that has happened in the last few years, CII estimates India in 2047 to be a 35-45 Trillion dollars economy, taking us into the league of developed nations,” quoted by the news agency. 

India, as an economy in 2047, can be seen as a powerhouse driving global growth, he added. 

“We are proud to be the mother of all democracies. We are proud to have a vibrant judiciary, rule of law, robust media, and transparent government systems. India as an economy in 2047 can be seen as a powerhouse driving global growth,” Goyal said during his address. 

“I can see an economy which, at least on a business and social scale, is a 30 trillion USD economy, possibly as CII estimated recently. Working on the foundation that has been prepared over the last few years,” he said. 

The Union Minister invited the business community of south California to invest in India calling it a “golden period” and the next 25 years of ‘amrit kaal’ as a crucial time for the country.  

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“As we embark on our journey towards making India a developed nation, it is an important time for us to reflect on where we see India in the next 25 years,” he said. 

Goyal went on to say that the next 25 years of Amrit Kaal, as articulated by PM Modi, are going to define India’s growth story. India has the advantage of demographic dividend. 

Our youth, the aspirational people that we have in India is the biggest opportunity & each one of them is connected to the world with access to the Internet.