Union Minister Piyush Goyal has voiced his confidence by saying that India will be a US$5 trillion economy by 2025 and the Centre is well poised towards achieving the target.
"I am very confident that by 2025 we will be a US$5 trillion economy. We are well poised towards achieving that, focused on different aspects of the economy which will take us there," the Union Minister said on Monday at UK-India Joint Economic and Trade Committee meeting in London.
He added, "We have opened up opportunities for single-brand retail and are easing some detrimental clauses of our policy in next few weeks which will help single brand retail come in a bigger way to our country."
Commerce and Industry and Railways Minister Goyal further said that the Centre has restrictions on multi-brand retail and have requested companies around the world to respect Indian sensitivities on restrictions of foreign investment and multi-brand retail.
"Particularly e-commerce companies coming to India would have to ensure that they stay within the letter and spirit of the law when it comes to multi-brand retail and our policies around that," he said.
Goyal is on a three-day visit to the UK to attend the India Day conclave.
Goyal said that I am very confident that by 2025 we will be a US$5 trillion economy. We are well poised towards achieving that, focused on different aspects of the economy which will take us there.