India to Become Third Largest Economy by 2027, Says Commerce Minister Piyush Goyal
Union Commerce and Industry Minister Shri Piyush Goyal stated that the Modi government has been focused on delivering quantum change—not just incremental growth—through a reform-driven approach anchored in Seva (Service), Sushasan (Good Governance), and Navachar (Innovation).
Speaking at a webinar organized by the Merchants’ Chamber of Commerce & Industry (MCCI) on the theme “India’s March Towards a $5 Trillion Economy: Navigating Global Challenges”, Shri Goyal reaffirmed the government’s ambition to transform India into the third largest economy by 2027.
He said India is poised to achieve the $5 trillion economy goal within the next three years, with the support of government policy, businesses, and the aspirations of 140 crore Indians aligned under the Viksit Bharat 2047 vision.
The Minister praised MCCI for its 124-year legacy and its role as a bridge between the government, industry, and stakeholders. “MCCI stands for Mobilizing Commerce and Connecting Industries,” he noted.
Shri Goyal also highlighted India’s macroeconomic resilience, citing strong banking systems, robust credit capacity, and low inflation levels (3%). He emphasized how India has moved from being part of the “fragile five” to one of the world’s top five economies.
He remarked that India’s global image has improved significantly. “Today, the Indian passport is a guarantee of safety and security,” he said, referencing Operation Sindhu as an example of swift protection of Indian citizens abroad.
He concluded by noting that young Indians are striving for a better life and the government is committed to fulfilling their aspirations with stability, reform, and growth as core values.
Source: PIB
