India on course to reclaim historical primacy as global economic powerhouse: Hardeep Puri

Tribune News Service

Aditi Tandon

New Delhi, August 4

India is on course to reclaim its historical place as a global economic powerhouse and broad indices required for the attainment of developed nation status would be in place by 2047, senior government minister Hardeep Singh Puri said on Friday.

Speaking on the eve of the G-20 Leaders’ Summit in New Delhi under India’s presidency on September 9 and 10, Puri said India had displayed the capacity to heavy lift and was discharging its global role in addressing climate change and disaster relief extremely well.

Puri was speaking as part of an ongoing government public outreach on ten years of the UPA government versus nine years of the ruling NDA.

The minister quoted British historians to recall how India contributed 24.4 per cent to the world economy in the 1700s and came down to just 4.2 pc by 1950 as a result of years of colonial subjugation.

“By the end of 2023, India would have become a 3.8 trillion dollar economy whereas at the end of 2014, our GDP was just about two trillion dollar. Global expert estimations suggest India could be a 26 trillion dollar economy by 2047,” said Puri.

Noting India’s rise from the world’s 10th largest economy in 2014 to the world’s fifth largest today, the minister said, “We will be the third largest in NDA’s third term like PM Narendra Modi has said. Five trillion dollar economy goal by 2026 is looking at us.

“Ten trillion dollar economy goal by 2030 is no longer a matter of debate,” he said, adding that UN Sustainable Development Goal targets will succeed because India will succeed just as MDGs succeeded because developing nations rose to the occasion.

The minister also said that top financial institutions in the world had projected positive growth for India in the the bracket of 6.1 pc in 2023 as against the world’s leading economies that are currently struggling.

“Well, before 2047 we will have all broad indices in place to attain the developed country status.

Look at the changes.

“To be able to take the fruits of development to most vulnerable sections is the most revolutionary change,” he said dismissing Opposition scepticism on India’s social, human rights and economic outlook.

He said the Opposition had made up its mind to stay in opposition.

Tabling one statistic to make his point about India’s positive outlook going forward Puri, Union Minister handling urban affairs and petroleum, said against Rs 1,57,000 crore spent on urban spaces in India between 2004 and 2014 under the Congress-led UPA, the NDA has in nine years spent Rs 19 lakh crore.

The change we have witnessed in the last nine years is somewhat extraordinary, he said in a crucial election year with the government intensifying its outreach on achievements of nine years led by the Prime Minister.

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