India will be a 5 Trillion Dollar Economy: Suresh Prabhu

Posted by Daily Shipping Times on 12-04-2018        Tweet

NEW DELHI: India will be a 5 trillion dollar economy, it is only a matter of time according to Mr Suresh Prabhu, Hon’ble Minister of Commerce and Industry and Civil Aviation. He was speaking at the Annual Session 2018 organized by the Confederation of Indian Industry in New Delhi on 9th of April 2018. Mr Chandrajit Banerjee, Director General, CII in his opening remarks asked how CII can work towards making India a 5 trillion dollar economy and how CII and its membership can work with the Ministry on pertinent issues.

Commenting on the present situation in the global economy, Mr Prabhu commented that with the recent measures taken by countries affecting global trade, we might be living in a new normal. According to him, post the establishment of the World Trade Organization (WTO), in recent times, people are questioning globalization and different definitions of globalization are emerging. India must face the challenge and convert it to an opportunity said Mr Prabhu. He believes India must take the lead and take advantage of globalization.