India took only five years to achieve the 3 trillion economyTop Stories

December 09, 2019 17:44
India took only five years to achieve the 3 trillion economy

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The Indian envoy to the US has said, India took only five years to move from a USD 2 trillion to USD 3 trillion economy and that the country would touch the USD 5 trillion mark in the coming years.

India was the 11th largest economy in the world when Prime Minister Narendra Modi took office in 2014. Five years down the line, India is either the fifth or sixth largest economy in the world, Harsh Vardhan Shringla the Indian Ambassador to the US, said.

“This is the result of the leadership of the prime minister and the political stability in the country,”Shringla said at the 2019 Annual Gala of Asian Indian Americans of Central Pennsylvania.

"It took us nearly 60 years after independence to achieve USD 1 trillion mark. It took 12 years to achieve our second trillion (dollar economy). And it has taken only five years, 2014 to 2019, to achieve the third trillion economy," Shringla said.

“The prime minister envisions an Indian that becomes a USD 5 trillion economy, meaning jumping by another USD 2 trillion in the next five years to come,” Shringla said.

“Soon we will have the largest productive workforce in the world,”he said. He said that the average age of the scientists working on the mission was 29 years referring to the fact that India is the only third country to send a satellite to Mars.

“In last 10-15 years, this relationship has become very multifaceted and comprehensive. The United States, today, is not only India's largest trading partner, but most importantly, the two countries enjoys excellent people-to-people contact,” Shringla said.

Shringla said that the prime minister addressing 50,000 India-Americans in the ‘Howdy Modi’ event on September 30 in Hutson,along with US President Donald Trump was a proud moment for the community.

“It reflects the partnership between the two countries,”he said.

By Shrithika Kushangi

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