Union Minister Piyush Goyal highlights India's growth story to journalists from Latin American, Caribbean countries

New Delhi [India], February 19 : Union Minister of Commerce & Industry, Consumer Affairs, Food and Public Distribution, and Textiles, Piyush Goyal, stated that the government's goal is to make India a fully developed nation by 2047, and that all efforts are being made in that regard.
Addressing a media delegation of 35 journalists from 19 countries in Latin America and the Caribbean in New Delhi today, Goyal said that the government's ambition is to increase the current USD 3.7 trillion economy to a USD 30-35 trillion economy by 2047, according to an official release from the Ministry of Commerce and Industry.
The goal is also to ensure the food and energy security of the nation.
Goyal hailed Prime Minister Narendra Modi's relentless pursuit of twin tracks - strengthening the macroeconomic fundamentals of India to prepare the country for the future and focusing on the welfare of the poor pertaining to food, healthcare and education.
"The Union Minister said that Prime Minister Shri Narendra Modi's holistic vision to address the issues regarding welfare of the poor coupled with good governance over the last decade has helped India transform from the 11th largest to 5th largest economy in the world and is on track to become the 3rd largest GDP by 2027," according to the release.
The Commerce Minister said that the current government has completed a turnaround of the macroeconomics of the country, with the foreign currency reserves being the 4th largest in the world, twice since 2014, and the currency is among the best performing in developing countries.
He said that India has witnessed the best performing decade in the last 75 years of independence, with inflation being halved in the past 12 years, which has benefited the economy with interest rates in control.
He further added that the government inherited a broken economy when it came to power with a clear mandate in 2014.
"We inherited a broken economy, deep in distress and a poor reputation around the world for India's growth story and its ability to play a part in geopolitics," the release quoted Goyal as saying.
Meanwhile, External Affairs Minister S Jaishankar also had a lively interaction with the media delegation from Latin America and the Caribbean.

In a post on X, Jaishankar, while sharing pictures from the meeting, wrote, "A lively interaction with 35 journalists from 19 Latin American and Caribbean (LAC) countries."

"Spoke to them about the 'New India', transformational changes underway, our growing global footprint and the opportunities to intensify India-LAC cooperation," he added.