Federal Commerce Minister Piyush Goyal said on Thursday that India is on track to become the third largest economy in the world by the end of 2027. Citing the forecast from the Multilateral Lenders International Finance Fund, the Union Minister has fostered confidence that the domestic economy is progressing in this respect and that it will reach a milestone in time.
Here are some key points from the Minister of Trade’s speech at the event:
FDI
- India has returned to the global foreign direct investment (FDI) track
- That FDI count has consistently broken records after a short slowdown that lasted about a year.
- We are bringing the growth trajectory onto the track
- European Free Trade Association (EFTA) countries invest $100 billion in FDI
- 15 years
- $100 billion FDI to crystallize $500 billion investment
inflation
- Domestic inflation was under 4% for three months
- RBI maintains a good balance
Capital Market
- Indian stock market has probably grown by more than 300% (fourth) since 2014
- Today, Nifty is impressed with almost 25,000
- When I came to power in 2014, it was probably around 5,700 or 5,800.
