India can replicate China’s 2000-20 growth story, defence, shipping can aid rupee appreciation: Goyal

Commerce and Industry Minister Piyush Goyal highlighted India's potential for economic growth, suggesting that increased shipping, focus on electric mobility, and self-sufficiency in defense could lead to rupee appreciation. Speaking at an Assocham event, he drew parallels to China's growth from 2000-2020, aiming for a similar trajectory. Emphasizing infrastructure development, anti-corruption measures, and employment generation, Goyal predicted India could become a $5 trillion economy within 3-3.5 years and potentially a $55 trillion economy by 2047 with sustained growth and low inflation.