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Indian economy may touch $30 trn in next 30 years, says Piyush Goyal
India is one of the fastest-growing economies in the world and it is expected to reach USD 30 trillion in the coming 30 years, Commerce and Industry Minister Piyush Goyal said here on Sunday. If India grows at 8 per cent every year on a compounded annual growth basis, the economy will double in about nine years, he said. The country's economy at present stood at about USD 3.2 trillion and in nine years from today, he said, it will be about USD 6.5 trillion. "Another nine years, that is 18 years from now, we will be about USD 13 trillion economy. And then another nine years after that, that is 27 years from now, we will be a USD 26 trillion economy… Then obviously, 30 years from today, confidently we can all expect that the Indian economy will be a USD 30 trillion economy," the minister said.
Govt wants to create 75 Tiruppurs across the country: Piyush Goyal
The government wants to create Tiruppur-like 75 textile hubs in different parts of the country, which will in turn attract not only huge investments but also create numerous employment opportunities, commerce and industry minister Piyush Goyal said on Sunday. “If each one of them (textile hub) starts producing Rs 50,000 crore worth of textile products, (then) each of them starts providing employment to lakhs of young boys and girls. Of course we will also bring modern technology and do sustainable garment manufacturing. We will learn from the experience of Tiruppur,” Goyal said. Tiruppur is a major textile hub and is home to 10,000 garment manufacturing hub, employing over 600,000 workers. “In 1985, Tiruppur was exporting products worth Rs 15 crore.
Commodity play
Gold – Rs 45739/10gm, Silver – Rs 59194/kg, Brcrude – Rs 8447/barrel, Degumsyoil – Rs 1284/10kg, Copper – Rs 738/kg.
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Indian economy may touch $30 trn in next 30 years, says Piyush Goyal
India is one of the fastest-growing economies in the world and it is expected to reach USD 30 trillion in the coming 30 years, Commerce and Industry Minister Piyush Goyal said here on Sunday. If India grows at 8 per cent every year on a compounded annual growth basis, the economy will double in about nine years, he said. The country's economy at present stood at about USD 3.2 trillion and in nine years from today, he said, it will be about USD 6.5 trillion. "Another nine years, that is 18 years from now, we will be about USD 13 trillion economy. And then another nine years after that, that is 27 years from now, we will be a USD 26 trillion economy… Then obviously, 30 years from today, confidently we can all expect that the Indian economy will be a USD 30 trillion economy," the minister said.
Govt wants to create 75 Tiruppurs across the country: Piyush Goyal
The government wants to create Tiruppur-like 75 textile hubs in different parts of the country, which will in turn attract not only huge investments but also create numerous employment opportunities, commerce and industry minister Piyush Goyal said on Sunday. “If each one of them (textile hub) starts producing Rs 50,000 crore worth of textile products, (then) each of them starts providing employment to lakhs of young boys and girls. Of course we will also bring modern technology and do sustainable garment manufacturing. We will learn from the experience of Tiruppur,” Goyal said. Tiruppur is a major textile hub and is home to 10,000 garment manufacturing hub, employing over 600,000 workers. “In 1985, Tiruppur was exporting products worth Rs 15 crore.
Commodity play
Gold – Rs 45739/10gm, Silver – Rs 59194/kg, Brcrude – Rs 8447/barrel, Degumsyoil – Rs 1284/10kg, Copper – Rs 738/kg.
Corporate News
Adani, L&T among 18 firms to show interest in BSES smart meter tender.
Lenders extends timeline for Reliance Capital resolution by 2 months to Nov.
After 5 months, ONGC finally gets a director on Hindustan Petroleum board.
Sector in focus – Banks, Metals, IT & FMCG.