Indian economy to double to USD 5 trillion over next few years: Suresh Prabhu

Posted by Daily Shipping Times on 20-11-2017        Tweet

...To increase share of exports to 3.5%

NEW DELHI: The Indian economy will double to USD 5 trillion over the next few years, becoming the third largest in the world, according to Commerce & Industry Minister Suresh Prabhu. The Minister expressed confidence on the growth of Country’s international trade.

The Commerce Ministry aims to increase the share of exports to 3.5 per cent from under two per cent currently. Senior Government officials have emphasised the need to integrate khadi and village industries, micro and MSMEs in the global value chain. Recently, Bank of America Merrill Lynch (BoAML) had projected that India will become the third largest economy overtaking Japan in nominal GDP by 2028.