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India could become $5 trillion economy by 2025: Suresh Prabhu
Mar-16-2018

Emphasizing on efforts being taken by the government to boost manufacturing in the country, Minister of Commerce & Industry, Suresh Prabhu has said that India could become $5 trillion economy by 2025, provided that there is consistent growth in manufacturing, services and agricultural sectors.

Prabhu underlined key role of the private sector to create new business models and strategies and leverage new technologies in order to fuel growth in the Indian economy and gave assurance of government’s support to it, noting that government will act as the facilitator in this process. Besides, he said that the government is focusing on twelve Champion Sectors with a view to drive manufacturing growth and to create employment opportunities in India. He added that these sectors have potential to become global champions and drive double digit growth in manufacturing.

Further, heads of industry bodies CII, FICCI, IFC, NASSCOM and NitiAayog, have expressed need to focus on various issues like technological disruptions, challenges due to climate change, positive use of India’s demographic dividend, conscious effort to make India’s manufacturing sector a part of global value chain and recognizing the importance of small and medium scale enterprises to fuel India’s growth story.

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