CII CII President Sanjiv Puri feels India will be third-largest economy in next few years
A top Indian industry chambers body's head has claimed India will become the world's third-largest economy in the next few years.
Newly elected President of the Confederation of Indian Industry (CII) and Managing Director of ITC, Sanjiv Puri, told ANI: "CII has projected the country's GDP growth at 8 per cent for this year."
"Several positive factors are contributing to this outlook. Firstly, a better-than-expected monsoon could lead to improved agricultural output, which would help moderate food inflation, currently a bit tricky," he said.
"Additionally, global trade, which was in negative territory last year, is expected to grow by more than 2 per cent this year. These near-term positive factors could propel the economy to an 8 per cent growth rate instead of the anticipated 7 per cent," he said.
India is currently the fifth-largest economy.
It has an estimated GDP of USD 3.7 trillion for FY24.
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