$5 tn economy goal not impossible: Gadkari
‘If we want to become a $5 trillion economy, we have to increase domestic production of goods instead of importing them,’ he said
New Delhi: Raising doubts over government's target to make India a USD 5 trillion economy by 2024, Union Road Transport and Highways Minister Nitin Gadkari has on Saturday said that the goal of making India a USD 5 trillion economy by 2024 was "difficult but not impossible".
It's not that Gadkari is the lone politician who has raised his concern over achieving the government's target as in September last former Prime Minister Manmohan Singh had said that there was no hope of Modi government's promise of USD 5 trillion economy becoming a reality if growth kept going down the way it has for the last five quarters.
However, Gadkari maintained that the target can be achieved by increasing domestic production and reducing dependence on imports.
Prime Minister Narendra Modi and other BJP leaders have often spoken about the goal of turning India into a USD 5 trillion economy by 2024.
"Strong political will is very important to achieve any goal. Manifesting the same will, Prime Minister Narendra Modi has set ourselves the goal of making the country a USD 5 trillion economy," Gadkari said, adding that this goal is "difficult" but not impossible. "Our country has plenty of resources and production capacity. Despite that we are spending crores every year on importing goods like medicines, medical devices, coal, copper, papers, etc," the Union minister said.
"If we want to become a USD 5 trillion economy, we have to increase the domestic production of these things instead of importing them," he said at an event in Indore on Saturday.
Referring to the current economic slowdown, Gadkari said, "We are the fastest growing economy in the world, but there is a cycle in the business. Challenges crops up at times due to the global economy and sometimes because of a gap in demand and supply."
"But I see India's future in the leaders of younger generation who can turn difficulties and challenges into opportunities," the union minister said, adding that there was no dearth of capital, resources and technology in the country,
but there is definitely a lack of right vision and leadership in different fields.