India Aims to Secure Third Spot in World Economy by 2030, Says Vice President Dhankhar

India Aims to Secure Third Spot in World Economy by 2030, Says Vice President Dhankhar

VoM News Desk | October 27, 2023 | 11:40 PM IST | Breaking News | Follow on Google News

India Aims to Secure Third Spot in World Economy by 2030, Says Vice President Dhankhar

India Aims to Secure Third Spot in World Economy by 2030, Says Vice President Dhankhar

Vice President Jagdeep Dhankhar has expressed a bold vision for India’s economic future, asserting that the country is on track to surpass Japan and Germany to become the world’s third-largest economy by the year 2030. Speaking at the closing ceremony of the ‘Country-led Initiative’ organized under the United Forum on Forests (UNFF), he highlighted India’s remarkable economic transformation over the past two decades.

From ‘Fragile Five’ to Top Five

Dhankhar noted that just two decades ago, India was among the “Fragile Five” economies, facing various economic challenges. However, India has since climbed the global economic ladder and is now recognized as the world’s fifth-largest economy, surpassing both Britain and France in 2022. Dhankhar confidently predicted that India is well on its way to securing the third spot by the end of this decade.

International Endorsement and Digital Advancements

The Vice President highlighted India’s growing reputation as an attractive destination for investment and opportunities, with international organizations like the International Monetary Fund referring to the country as a “shining destination.” India’s impressive digital transactions, four times that of the US, UK, France, and Germany, underscore its digital prowess. Furthermore, India’s per capita internet data usage outpaces the total data consumption of both the US and China, showcasing the nation’s digital footprint.

Global Challenges: COVID-19 and Climate Change

Addressing global challenges, Dhankhar emphasized the interconnected nature of future challenges, indicating that issues such as COVID-19 and climate change transcend national borders and impact the entire world. He urged that climate change presents a more significant challenge than COVID-19 and emphasized the need for collective global efforts to address it effectively.

Renewable Energy and Green Hydrogen Mission

In terms of sustainable development, Dhankhar shared that India aims to meet its electricity needs from renewable energy sources by 2030. He also highlighted the significance of the National Green Hydrogen Mission, a substantial initiative of the central government, which is poised to address employment, entrepreneurship, and climate change issues.

India’s economic and environmental ambitions are poised to shape its future trajectory on the global stage, solidifying its position as a key player in the international landscape.

VoM News Desk

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