According to Narayan Rane, Union MSME Minister, India is on its way to becoming the third largest economy, as he urges both global and domestic industries to continue investment in India.
On May 10, he made the comments at “GIC 23 Intergovernmental Connect,” an event hosted by the Inventivepreneur Chamber of Commerce and Industry (ICCI) and the Ministry of Micro, Small, and Medium Enterprises (MSME) in this city.
“From the 10 largest in 2014, India today is the 5th largest economy. Only Japan and Germany are ahead of us. We will become the third largest by 2030, as envisioned by our prime minister,” he said, addressing around 200 delegates from across the globe at the event.
The minister further said that immense business opportunities are available in various sectors in India and promised full support to investors looking to invest in the country. The country would witness many industrial parks across various regions, and investors may explore business prospects in this field, he added.
He added that in order to control incoming shipments, the industry must pinpoint the regions where imports are taking place and begin producing such goods there.
ICCI Vice Chairman Rishabh Malhotra said the overseas delegates comprised industry experts and officials from countries like Spain, Belarus, Mexico, and Africa, among others.
The participants are from various industries like FMCG, automotive, logistics, power, solar, and telecom.
