‘India to become $5 trillion economy by 2025’

Athens: There is a huge potential for India and Greece to collaborate in areas like infrastructure, supply chain, energy and services, President Ram Nath Kovind has said as he highlighted investment opportunities in India which is striving to become a $5 trillion economy and the world’s third-largest consumer market by 2025.

Kovind is the first Indian president to travel to Greece in 11 years. Addressing the diaspora in Athens, he said his visit will strengthen ties between India and Greece.

Kovind praised overseas Indians for playing an important role in improving bilateral relations.

“Greece and India presented the ideals of civilisation and culture in the ancient world. We are working towards making India a $5 trillion economy and the world’s third-largest consumer market by 2025,” Kovind said. Currently, India’s economy is estimated at USD 2.5 trillion.

Jaitley hits back at naysayers

  • Hitting back at naysayers, Union Minister Arun Jaitley said that 7.7% growth in the March quarter has ‘firmly’ established India as the fastest growing major economy and the future looks brighter than the past.
  • He also dismissed ex-Finance Minister P Chidambaram’s advice to cut tax on petrol and diesel by Rs25 per litre as a ‘Trap suggestion’.
  • Meanwhile, Finance Minister Piyush Goyal said the government is committed to meeting the fiscal deficit of 3.3% for the current fiscal.