Indian Union Home Minister Amit Shah expressed optimism on Friday that his country will have the third-largest economy in the world by 2027. The Home Minister urged the industry to increase investments in research and development to elevate MSMEs to a global level while speaking at the PHDCCI’s 118th Annual Session at Vigyan Bhawan in this city. At the beginning of his speech, he mentioned the accomplishments of the G20 Summit, Chandrayaan-3, and Mission Aditya L-1. He also made mention of the passage of the women’s reservation bill.
“All these events have filled the country with new energy,” the Home Minister said.
He said the country has completed 75 years journey after Independence and has several achievements to its credit.
Shah said the roots of democracy have deepened in the country.
He said India was at 11th position in 2014 in terms of the size of its economy.
“Now, we are the fifth-largest economy of the world and I have firm belief that we are going to become the world’s third-largest economy by 2027,” Shah said.
Shah urged the industries to grow in size and scope, recalling Prime Minister Narendra Modi’s famous quote, “Yahi Samay Hai, Sahi Samay Hai.” He also requested that PHDCCI play a significant role in the process. More emphasis on R&D, according to the home minister, will make it possible for industries to compete globally. Shah also expressed optimism about India’s future as a global hub for higher education.