India to become world's third-largest economy by 2027: Piyush Goyal

Union Minister of Commerce and Industry, Piyush Goyal on Tuesday said that by 2027, India will be the world's third-largest economy, ahead of Japan and Germany.

Addressing the annual meeting of Tamil magazine 'Thuglak' here, Goyal said, "What did Mr Modi do in ten years? He took India from the 11th largest GDP to the fifth-largest GDP."  Further, the minister said that the then Union Finance Minister P Chidambaram in his interim budget of 2014 had predicted that in the next 3 decades, India's nominal GDP would take the country to the third rank, after US and China.

Chidambaram had predicted in 2014, a 30-year duration for India to become the third-largest GDP, he noted.

"What did Mr Modi do? He said I will do it in less than half that time and I assure you friends, by 2027, India will be the world's third-largest economy, ahead of Japan and Germany; in only 13 years and not 30 (years), that is Prime Minister Modi's commitment and courage of conviction," Goyal asserted.

Also, he said as many as 19 nations have conferred PM Modi the highest civilian honour of their countries. Eight are Muslim majority, 10 are Christian majority and one is a Buddhist majority nation and there could be a no better rebuttal to the false narrative that some people try to spread againt India and PM Modi.

"He is the most inclusive leader with true secularism, does not believe in appeasement politics, who believes in Sabka Saath Sabka Vikas," the union minister said.