India could become second largest economy in the world:PM |
After attaining the position of sixth largest economy of the world, India`s growth projections can win us the position of the second largest economy in the world by 2030. Prime Minister Narendra Modi on Monday said that India continues to be the fastest growing economy and could be the second largest economy in the world by the year 2030. These projections are backed by recent reports by leading agencies such as IMF and World Bank. Addressing the audience at the inauguration of Petrotech 2019 in Uttar Pradesh, Prime Minister said, `In an uncertain global economic environment, India has shown tremendous resilience as an anchor of the world economy.` He said, "India has the fourth-largest refining capacity in the world. This will further grow up by about 200 million metric tonnes by 2030. Our national biofuel policy has enacted last year... research on second and third generation biofuel is being promoted. 12-second generation bio refineries are being set up in 11 states." As per a Standard Chartered report, India is likely to pip the United States to become the world`s second-largest economy by 2030.
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