India aims to become $5 trillion economy by 2025, says PM Modi

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Pitching India as an attractive investment destination, he said those wanting wealth with wellness and peace with prosperity should come to the country.

India is moving towards becoming a USD 5 trillion economy by 2025, Prime Minister Narendra Modi told the World Economic Forum (WEF) annual gathering on Tuesday.

Pitching India as an attractive investment destination, he said those wanting wealth with wellness and peace with prosperity should come to the country.

The first Indian prime minister in two decades to attend the WEF summit here, he delivered the speech at the opening plenary where he raised concerns about protectionist tendencies.

He said the country is moving towards becoming a USD 5 trillion economy by 2025 and emphasised that the government is following the principle of reform, perform and transform.

Currently, India’s gross domestic product (GDP) is around USD 2.2 trillion.

On Monday, the International Monetary Fund (IMF) projected the Indian economy to grow at 7.4 percent in 2018 and become the fastest growing country among emerging economies.

“We have made it so easier to invest in India, manufacture in India and work in India. We have decided to uproot licence and permit Raj. We are replacing red tape with red carpet,” Modi said today.

Source: Moneycontrol.com

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