On 15th August 2019, Independence Day Speech, Prime Minister Narender Modi expressed confidence that India would be a $5-trillion economy in 2024,India will become the third-largest economy in the world.
The focus is on boosting
✓services sector contribution to $ 3 trillion
✓manufacturing to $ 1 trillion and
✓Agriculture to $ 1 trillion.
But covid -19 situation & worldwide economic slowdown in this context, many critics have questioned the feasibility of India achieving $5 trillion economy status by 2024?
India's GDP is currently estimated at around USD 3.2 trillion.As per my estimate, India needed to grow on average at 8.5 per cent per year in real terms up to 2025 to achieve the target of 5 trillion dollar economy.
I think it is possible under Modi administration, believe India will $5 trillion economy by 2025 or 2026.
We know Modi government is working towards making India a $5 trillion dollar economy by 2025. Strongly believe India has huge potential to grow at 10-11% per annum for next 10 years.
