India could become $5 trillion economy in 7 years: Suresh Prabhu

Gandhinagar: Union Commerce and Civil Aviation Minister Suresh Prabhu said today that India has the potential to be a $5 trillion economy in the next 7-8 years.

Addressing a seminar on exports at the Vibrant Gujarat Global Summit in Gandhinagar, Prabhu said his department had prepared a road map to make this possible by focusing on manufacturing, service sector and agriculture.

“India has a potential to be a $5 trillion economy in 7 to 8 years, and definitely a $10 trillion economy before 2035,” he said.

“Manufacturing should lead to export. This will bring quality and competitiveness. Our cumulative export stands at around half a trillion dollars. The challenge is to double it,” he said.

Prabhu added that India can increase exports to Africa and Latin American countries.

To boost air connectivity in the country, 100 new airports will come up in the near future with a cumulative investment of $65 billion, he added. 

On Saturday, two MoUs were signed between the Gujarat government and Airports Authority of India for establishing greenfield airports at Dholera and Ankleshwar.