{"id":13238,"date":"2024-01-11T12:28:32","date_gmt":"2024-01-11T06:58:32","guid":{"rendered":"https:\/\/vglobenews.com\/?p=13238"},"modified":"2024-01-11T12:28:32","modified_gmt":"2024-01-11T06:58:32","slug":"india-targets-third-largest-global-economy-by-2028-says-finance-minister","status":"publish","type":"post","link":"https:\/\/vglobenews.com\/?p=13238","title":{"rendered":"“India Targets Third-Largest Global Economy by 2028, Says Finance Minister”"},"content":{"rendered":"\n
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India Aims to Become World’s Third-Largest Economy by 2027-28, Says Finance Minister Nirmala Sitharaman<\/strong><\/p>\n\n\n\n

Gandhinagar, January 10<\/em> – Finance Minister Nirmala Sitharaman announced at the Vibrant Gujarat Global Summit on Wednesday that India is poised to become the world’s third-largest economy by 2027-28, surpassing a GDP of $5 trillion during that period.<\/p>\n\n\n\n

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Sitharaman expressed confidence in a conservative estimate that India could achieve a $30 trillion economy by 2047, emphasizing that the nation’s aspirations extend beyond economic milestones to ensure inclusive growth in the long term.<\/p>\n\n\n\n

Highlighting India’s commitment to inclusive development, Sitharaman stated, “We are not only aiming to become a $30 trillion economy by 2047 but also aim to ensure inclusive growth.”<\/p>\n\n\n\n

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Providing insight into foreign direct investment (FDI) trends, the Finance Minister revealed that India received $919 billion in FDI over 23 years until 2023, with a substantial $595 billion influx occurring in the last 8-9 years under the Narendra Modi government.<\/p>\n\n\n\n

Sitharaman underscored the collaborative efforts between states and the Centre, emphasizing a cooperative, competitive, and collaborative federalism approach since 2014. She noted that states are now actively competing with each other to contribute towards India’s goal of becoming a developed nation by 2047.<\/p>\n\n\n\n

Currently, India’s GDP stands at approximately $3.4 trillion, ranking it as the world’s fifth-largest economy after the United States, China, Japan, and Germany. India maintains its status as the fastest-growing major economy, boasting a GDP growth rate of 7.6 percent in the July-September quarter of the current year.<\/p>\n\n\n\n

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India Aims to Become World’s Third-Largest Economy by 2027-28, Says Finance Minister Nirmala Sitharaman Gandhinagar, January 10 – Finance Minister Nirmala Sitharaman announced at the Vibrant Gujarat Global Summit on Wednesday that India is poised to become the world’s third-largest economy by 2027-28, surpassing a GDP of $5 trillion during that period. Sitharaman expressed confidence […]<\/p>\n","protected":false},"author":1,"featured_media":13230,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25,14,15],"tags":[1131],"class_list":["post-13238","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-international","category-national","tag-indiaeconomicgrowth-globaleconomicleader-inclusivedevelopment-vibrantgujaratsummit-fdiinflux-economicmilestones-cooperativefederalism-competitivefederalism-2030goals-sitharamanvision"],"yoast_head":"\n"India Targets Third-Largest Global Economy by 2028, Says Finance Minister" - VGlobe News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/vglobenews.com\/?p=13238\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\""India Targets Third-Largest Global Economy by 2028, Says Finance Minister" - VGlobe News\" \/>\n<meta property=\"og:description\" content=\"India Aims to Become World’s Third-Largest Economy by 2027-28, Says Finance Minister Nirmala Sitharaman Gandhinagar, January 10 – Finance Minister Nirmala Sitharaman announced at the Vibrant Gujarat Global Summit on Wednesday that India is poised to become the world’s third-largest economy by 2027-28, surpassing a GDP of $5 trillion during that period. 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