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Indian Economy Update: India’s economy gains momentum, steps towards becoming the world’s third largest economy – Bollywood Keeda

Indian Economy UpdateMeanwhile, Central Government’s Chief Economic Advisor (CEA) V Ananth Nageswaran has said that startups will play an important role in India becoming the third largest economy in the world.

According to a statement issued by the Kerala Startup Mission (KSUM), Nageswaran said that due to improving infrastructure and supportive policies of the government, startups are growing rapidly in tier-2 and tier-3 cities, including Thiruvananthapuram.

CEA, in his address on the concluding day of KSUM’s program ‘Huddle Global 2023’, said that India is the fifth largest economy and is on its way to becoming the third largest economy in a few years.

He said, ‘I would say that the slogan of seven-in-seven is in discussion. This means an economy of US $ 7,000 billion in seven years. If India maintains its current growth path, an economy size of $7 trillion is possible by 2030. Startups are going to play an important role in this.

The Chief Economic Advisor said that the last decade has seen extraordinary change in India’s startup landscape. India has emerged as the third largest ecosystem globally. Currently, the Department for Promotion of Industry and Internal Trade (DPIIT) has recognized more than 1.12 lakh startups in 763 districts.

If we talk about the top economy of the country, America is at the top. America’s economy is at first place with 26.70 trillion dollars. After this, China is in second place with 19.24 trillion dollars. Japan’s name is in third place with 4.39 trillion dollars. At the same time, Germany’s name is at fifth place with 4.28 trillion dollars. India’s name is at number 5 with 4 trillion dollars.


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