India will be a 5 trillion-dollar economy – and then go on to be a 15 trillion-dollar-plus economy over the next two decades.
Originally published on 13th July 2021
Billionaire Gautam Adani on Monday said the Indian economy is at the start of a virtuous cycle and on the path to becoming a USD 15 trillion economy over the next two decades.
The Indian economy was worth USD 2.89 trillion before the pandemic, which wiped off over 7 per cent of the total economy.
Addressing the shareholders of his port-to-energy conglomerate Adani Group, he said while questions are being raised about India’s target of becoming a USD 5 trillion economy in the next four years, he has no doubt that India will achieve it.
‘I personally see it as an inconsequential question,’ Adani, 59, who is Chairman of the Group, said.
‘India will be a 5 trillion-dollar economy – and then go on to be a 15 trillion-dollar-plus economy over the next two decades,’ he said.
He went on to state that India will emerge as one of the largest global markets, both in terms of consumption size and market cap.
‘There will be bumps along the road, as has been the case in the past, and is expected to be the case in the future.
‘However, there cannot be any doubt that the largest middle class that will ever exist, augmented by an increase in the working-age and consuming population share, will have a positive impact on India’s growth very much in line with the demographic dividend India enjoys,’ he said.
Stating that history has shown that several learnings emerge from every pandemic crisis, Adani said India and the world are wiser as they go through the COVID-19 pandemic.
‘India is at the start of a virtuous cycle that is driven by the growth in the middle-class population, and our nation today has the longest runway of any country in the world,’ he said.