Goyal shows hope, says right steps would make India $55 trn economy by 2047

Commerce and Industry Minister Piyush Goyal on Wednesday expressed hope that steps such as focus on self-sufficiency, technology, stronger currency and fundamentals would help India become a USD 55-trillion economy by 2047.

He said that the government is also focusing on areas such as moving from oil to electric vehicles and bringing quality in the manufacturing.

He was replying to a question about feasibility to reach USD 55 trillion economy by 2047, which is the theme of K V Subramanian's book Bharat@100: Envisioning Tomorrow's Economic Powerhouse.

"All this will collectively help us and a stronger currency...stronger fundamentals of economy from where we are today and hopefully will help us to (reach) USD 55 trillion economy," he said.

Goyal added that EV focus, and reduction in imports of goods, oil seeds, rubber and pulses would help further strengthen the domestic currency.