KAKINADA: Foreign trade will be a truly defining feature that will help India grow into a $30 trillion economy in the Amrit Kaal over the next 25 years, India’s Trade and Industry Minister said. ‘Union, Piyush Goyal. Goyal, together with Union Finance Minister Nirmala Sitharaman, on Friday inaugurated the campus of the Indian Institute of Foreign Trade (IIFT) in Kakinada.
Stating that the feat was achievable and doable, he said, “The Indian economy has grown 11.8 times in dollar terms over the past 30 years. Our current economy is about $3.5 trillion compared to less than $300 billion three decades ago. We have reached this inflection point, we are at dawn, where we will take off. If we have the ambition to grow at least tenfold over the next 25 years…we’re looking to get through the $30 trillion economy with a GDP per capita of $15,000.
“Amrit Kaal, leading to 100 years of Indian independence, will determine the future of our children and generations to come. You are the main stakeholders in this journey,” Goyal told IIFT students.
Stating that India is a bright spot in the world today as other countries have gone into recession, the minister said the world is looking to engage with India because it is an economy in growth.
“The world wants free trade agreements with us. Political stability, decisive leadership and skillful management of the economy made the world turn to India. As we move into developed economy status, our imports and exports will increase significantly. We must have transparent foreign trade, circulation of goods and services,” he noted.
Urging IIFT students, he said, “Let us make India the Viswaguru, the world superpower once again.
Addressing the students, she stressed the need for field experiences, in addition to classroom activities.
Urging the students to broaden their horizons, Sitharaman told them that she was not interested in cut-and-paste advice, which has become the norm these days, but wanted them to understand how business policies of India reflect the strength of the Indian economy and protect its interests while negotiating. commercial agreements.
KAKINADA: Foreign trade will be a truly defining feature that will help India grow into a $30 trillion economy in the Amrit Kaal over the next 25 years, India’s Trade and Industry Minister said. ‘Union, Piyush Goyal. Goyal, together with Union Finance Minister Nirmala Sitharaman, on Friday inaugurated the campus of the Indian Institute of Foreign Trade (IIFT) in Kakinada. Stating that the feat was achievable and doable, he said, “The Indian economy has grown 11.8 times in dollar terms over the past 30 years. Our current economy is about $3.5 trillion compared to less than $300 billion three decades ago. We have reached this inflection point, we are at dawn, where we will take off. If we have the ambition to grow at least tenfold over the next 25 years…we’re looking to get through the $30 trillion economy with a GDP per capita of $15,000. “Amrit Kaal, leading to 100 years of Indian independence, will determine the future of our children and generations to come. You are the main stakeholders in this journey,” Goyal told IIFT students. Stating that India is a bright spot in the world today as other countries have gone into recession, the minister said the world is looking to engage with India because it is an economy in “The world wants free trade agreements with us. Political stability, decisive leadership and skillful management of the economy have made the world look to India. As we enter in a developed economy status, our imports and exports will increase significantly. We must have transparent foreign trade, circulation of goods and services,” he noted. Urging IIFT students, he said: “Let us make India the Viswaguru, the global superpower ale one more time. Addressing the students, she stressed the need for field experiences, in addition to classroom activities. Urging the students to broaden their horizons, Sitharaman told them that she was not interested in cut-and-paste advice, which has become the norm these days, but wanted them to understand how business policies of India reflect the strength of the Indian economy and protect its interests while negotiating. commercial agreements.
