Even with business as usual, India@100 will be $30 trillion economy: Piyush Goyal

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By Our Special Correspondent

New Delhi, October 10: Claiming that “we have reasonably handled the current geopolitical situation in light of the Russia-Ukraine conflict”, Union Minister for Commerce Piyush Goyal on Monday said that “even on a business-as-usual pace, India will be a $30-32 trillion dollar economy when we mark 100 years of Independence”.

Goyal’s remarks have come only two days after the World Bank lowered India’s growth rate projection to 6.7 per cent, lower than already scaled down Reserve Bank of India’s assessment of seven per cent in the current financial year. Also, the World Trade Organisation has said that the global trade would grow at a rate of just one per cent and three and a half per cent expected earlier. “Nowhere in the world do we have the opportunity of the size and scale that India offers today. Going forward, India will lead global growth. The world is excited and bullish about the India growth story. They are looking at us with confidence, hope and commitment,” said Goyal, while speaking at the listing ceremony of the 400^th company on the SME platform of the BSE in Mumbai.

“So far, 152 companies have migrated to the main board. The 394 companies listed on BSE SME Platform have raised Rs 4,263.00 crore from the market and total market capitalization of 394 companies as on October 7, 2022 is Rs 60,000 crore,” said the Ministry of Commerce in an official statement. BSE is the market leader in the SME segment with a market share of 60 per cent.

Suggesting that the startups should also be brought onboard, Goyal said: “We have more than 100 unicorns, many soonicorns are on the way to becoming unicorns. Commerce and Industry Ministry could help forge partnership between BSE and startup ecosystem. This will be good for both, help startups grow faster and help BSE enlarge platform.”