India to become world's third economy in 2027: Shekhawat

- Claim of Union Minister of Water Power

- Based on the data released on Thursday night, Shekhawat said on Friday: India will surpass Germany and Japan by 27

New Delhi: By 2027, India will overtake Japan and Germany to become the third largest economy in the world. While saying that, Union Minister Gajendra Shekhawat said that these findings have been given by the world's leading economic review institutions.

Citing export data released on Thursday night, Shekhawat said India is a bright spot in a darkening global economic outlook, and will overtake Japan and Germany to become the world's third-largest economy.

India's overall exports (including goods and services) rose to $58.22 billion in November 2022. Which is 10.97 percent more than the export during this period last year.

Against this, the overall import has reached 69.33 billion dollars. Therefore, the import was 5.6 percent more than the same period last year.

Clarifying about trade and food with China, he said that it is true that we have a border dispute with China. But business relationships are a different matter.

Actually we buy raw materials from China, and make finished goods from them and sell them to other countries. It gives a much higher return than the cost of the raw material (layer). More importantly, we are thus exporting much more than before. This is what he told a small select group of journalists.

The Jal Shakti Minister further said that India is becoming the world's pharmacy (medicine manufacturing company). We are currently manufacturing drug brands for which we have to import APIs (Active Pharmaceutical Ingredients). It is also produced in India, and is growing. Yet it is not enough. We have also progressed in engineering goods manufacturing. But for that we also have to import raw materials. We export mobiles worth 1 billion US dollars every month. We are becoming the second rank exporter in this sector. The important thing is that we add value to it and export it.

India's overall exports (including goods and services) rose 17.72 percent in April-November, relative to the same period last year.

While India's domestic demand has remained steady despite the global recession, Shekhawat told reporters that Prime Minister's Mudra Yojana Skill India and Startup Yojana have yielded good results. At least one start up will be seen in 630 out of 700 districts of the country. There are 70,000 startups in the country. Thus India is becoming not just a silver line on the world cloud but a shining star.