NEW DELHI: Commerce and Industry Minister Suresh Prabhu today exuded confidence that India will become a USD 5 trillion economy in the next seven years.
Also, he said that India will be a bigger economy than China at some point of time. Currently India’s economy is estimated at USD 2.5 trillion and that of China at USD 11.85 trillion.
In the October-December quarter, India posted a GDP growth of 7.2 per cent to regain the tag of world’s fastest growing major economy.
“I am very sure, you take a medium term, India will grow at a much faster rate. We will be five trillion dollar economy in seven years time,” he said at an event here.
The Minister said that his Ministry has already prepared a paper on how India can become a larger economy.
He said the manufacturing sector would contribute USD 1 trillion, services sector USD 3 trillion and the rest would come from agricultural sector for the country to become a USD 5 trillion economy in the next seven years. (AGENCIES)
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