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14-Dec2018

Need to increase India's export significantly to make $5 trillion economy by 2025: Kant

NITI Aayog chief executive Amitabh Kant has said that there is need to increase India's export significantly if the country has to double the size of its economy to $5 trillion by 2025. He also noted that the private sector will play a major role in pushing the country's economy towards the ambitious $5-trillion target.

Kant has said that in the last four years, the government has approved a series of measures coupled with many structural reforms like Rera, GST and IBC, to improve India's position in the World Bank's 'Doing Business' ranking. He also said that these measures will make India extremely efficient in the long run. However, he noted that to address the real challenge of growing the GDP at 9-10 percent over the next three decades, India will have to increase its exports.

NITI Aayog chief executive said “no country has grown without exports. Take the example of Japan, Korea and China, which have grown on the back of exports. So, India needs to push for exports, which would require size and scale of manufacturing and penetrating global markets.” He noted that to achieve this, it is necessary to create 100 champion companies like Tata Consultancy Services (TCS), with proper support from the government.


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