'India can touch up to $40-trillion economy by 2047'

'India can touch up to $40-trillion economy by 2047'
Representational Pic

Pune, Feb 25: Predicting that India would be the third largest global economy within four-five years, Union Commerce Minister Piyush Goyal on Saturday said the rate at which the country's economy is growing, it could touch $35-40 trillion by 2047 - the centenary year of India's Independence, here.

Speaking at the Asia Economic Dialogue here, Goyal said that it is the desire of every Indian to be second to none, and India is not only the fastest-growing economy but will continue to be so for many decades to come.

Referring to the peculiar dynamics in Asia where there are economies which are both democratic and authoritarian, the Minister said that now India has clearly considered the country of the decade, if not the country of the 21st century, in view of our strong macroeconomic fundamentals and the reforms of the past few years.

"We have already moved from the 10th largest to the 5th largest economy, and have a young demographic dividend that is being recognised as our biggest asset," Goyal pointed out.

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