NEW DELHI, Mar 16: Commerce and Industry Minister Suresh Prabhu has said India’s GDP could reach USD 5 trillion by 2025 thus proved that there is consistent growth in manufacturing, services and agricultural sectors.
Chairing a working group on making India a USD 5 trillion economy in 7 years here on Thursday, Mr Prabhu said government has focused on 12 Champion sectors to push growth in manufacturing and generate job opportunities in India.
The meeting was attended by heads of industry bodies CII, FICCI, IFC, NASSCOM, Niti Aayog and senior officials from the Departments of Commerce and DIPP.
Underlining role of the private sector to create new business models and strategies and leverage new technologies in order to fuel growth in the Indian economy, the Minister said the government will act as the facilitator in this process.
The participants underlined the need to factor in technological disruptions, challenges due to climate change, positive use of India’s demographic dividend, conscious effort to make India’s manufacturing sector a part of global value chain and recognizing the importance of small and medium scale enterprises to fuel India’s growth story.
“These sectors have potential to become global champions and drive double digit growth in manufacturing, “Mr Prabhu said.
(UNI)
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