India to emerge as 3rd largest global economy by 2027, overtake Japan & Germany: Finance Minister
PTC News Desk: Finance Minister Nirmala Sitharaman said on Wednesday that India is expected to surpass Japan and Germany to become the world's third-largest economy by 2027.
The Union Minister Sitharaman, speaking at the Indo-Pacific Regional Dialogue here, said India's economic growth is expected to be just under 7% this year, the highest among major economies despite global headwinds.
According to Sitharaman, the Indian economy is on the right track and will have a bright future.
Despite supply-chain disruptions and economic turbulence caused by contemporary conflicts affecting the Indo-Pacific and despite palpable tensions in the South and East China Seas, the Indian economy stands out as a bright spot, she said.
"Even according to the usually conservative estimates of the IMF, the Indian economy is set to emerge as the world's third-largest economy by 2027, hopping over Japan and Germany, as its GDP crosses the USD 5 trillion level. By 2047, India aspires to be a developed economy," the minister said.