Suresh Prabhu, minister of Commerce and Industry, Civil Aviation, on Tuesday took to his twitter account to say that India would be a $10 trillion economy in 10-15 years.
Suresh Prabhu, minister of Commerce and Industry, Civil Aviation, on Tuesday took to his twitter account to say that India would be a $10 trillion economy in 10-15 years. Prabhu further said that the investment led growth, consumption, technology and total output would lead to growth in manufacturing, services and agriculture sectors.
Suresh Prabhu had a meeting with US business leaders on Tuesday. The meeting was organised by US -India Strategic Partnership Forum.
Referring to India's performance in ease of doing business in Worls Bank's report, Prabhu also said that the Modi government is working on to improve further.
Meanwhile, Retail inflation inched up to 4.87 in May on increase in prices of certain items in the food basket, as per the government data released today.
Based on the Consumer Price Index (CPI), the inflation was at 4.58 per cent in the preceding month April.
In May last year, it was 2.18 per cent. According to the data of the Central Statistics Office (CSO), food inflation rose to 3.10 per cent last month, as against 2.8 per cent in April.
The price data is collected from selected towns by the Field Operations Division of NSSO and from selected villages by the Department of Posts.
The government released separate data for Industrial output which showed that the industrial growth expanded by 4.9 per cent in April this year, spurred by higher growth in manufacturing and mining sectors.
The industrial growth, measured on the Index of Industrial Production (IIP), was 3.2 per cent in April last year.
In March this year, industrial production had grown at 4.4 per cent. The CSO data showed that the manufacturing sector, which constitute more than 77 per cent of the index, recorded a growth of 5.2 per cent in April, up from 2.9 per cent in the year ago month.
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