India Is Set To Become the World’s Third-Largest Economy: MSME Minister

The Inventivepreneur Chamber of Commerce and Industry (ICCI), in collaboration with the Ministry of Micro, Small, and Medium Enterprises (MSME), hosted the ‘GIC 23 Intergovernmental Connect’ event on May 10, where Union MSME Minister Narayan Rane made the remarks.

“From the tenth largest economy in 2014, India is now the fifth largest economy.” Only Japan and Germany have surpassed us. “As our prime minister has envisioned, we will become the third largest economy by 2030,” he declared, addressing roughly 200 delegates from around the world at the event. The minister also stated that there are several business prospects in various sectors in India and assured full support to businessmen willing to invest in the country.

According to him, the nation will have a variety of industrial parks spread out across different regions, and investors can look into business opportunities there. He added that the sector must determine the regions where imports are taking place and begin producing such goods to monitor incoming shipments.Industry experts and diplomats from nations including Spain, Belarus, Mexico, and Africa were among the overseas participants, according to ICCI Vice Chairman Rishabh Malhotra. Participants represent a range of sectors, including FMCG, automotive, logistics, electricity, solar, and telecommunications. Following the minister’s instructions, “we will guide them (investors) on various business-friendly policies being offered by the government of India and that of various other countries.”

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