Rajnath Singh eyes $10 trillion economy for India, sets timeline

While Prime Minister Narendra Modi has set the target of a five trillion dollar economy by 2024, Defence Minister Rajnath Singh said that with the talent India possesses, in 10-15 years we will become a 10 trillion dollar economy. Speaking at the Def-Connect event in Delhi, the minister said,

"Prime Minister Modi has set 5 trillion dollar economy target by 2024 but I feel that with the talent we have, in 10-15 years we will make it a 10 trillion dollar economy," 

Ministry of Defence organized the 'Def Connect' event on November 11 with the main objective of the event is to showcase the accomplishments of iDEX-Innovations for Defence Excellence. In this address, Rajnath Singh also said that the aim is to make the Indian defence industry self-reliant & less dependent on imports

"Defence sector will play a pivotal role in government's aim of inclusive growth and making India a $5 trillion economy. Our aim is to make a world-class domestic defence industry that is self-reliant and less dependent on imports," he said while addressing the captains of industry at the 22nd India International Security Expo, 2019 (Defence & Homeland Security).

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PM Modi targets 5 trillion dollar economy

Prime Minister Narendra Modi last week delivered a keynote at Malaysia where he once again spoke about India's goal of becoming a five trillion-dollar economy. He said, "India is now pursuing under the dream to become a 5 trillion dollar economy. When my government took over in 2014, India's GDP was about 2 trillion dollars in 65 years. But in just 5 years, we increased the GDP to nearly 3 trillion. This convinces me that the dream of a five trillion dollar economy will soon become a reality." Further, speaking about investments, he said, "We are going to invest 1.5 trillion dollars for the next generation's infrastructure." 

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(With Inputs from ANI)