India has the potential to emerge as 10 trillion dollar economy

14:12 | 01/03/2019 Global Economy

Indian Prime Minister Narendra Modi recently said that India has the potential to emerge as a 10 trillion dollars economy with countless startups and rank as the third largest globally.

The Indian economy grows at 7.4 percent in the 2018-19 fiscal year

The country has made rapid strides since 2014 with an average GDP growth rate of 7.4 per cent and inflation at less than 4.5 per cent, he said while speaking at the ET Global Business Summit.

"This will be the highest growth and lowest inflation during the period of any government in post-liberalisation era," said Modi.

"India today is a country where the impossible is now possible. This is in contrast to the sentiment prevalent in the previous government where the only competition was over corruption."

Modi said after the NDA government came to power in 2014, hesitations has been replaced by hope, issues have been replaced by initiatives. "With unprecedented changes and reforms, transformation is happening. Reforms undertaken by the government have laid the foundation for solid growth in coming years."

Theo mid-day.com