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India Poised to Surpass Germany by 2030, Says Hardeep Singh Puri

India Poised to Surpass Germany by 2030, Says Hardeep Singh Puri

Hardeep Singh Puri stated that India will surpass Germany by 2030. GDP has reached $4.3 trillion, $748 billion in FDI has arrived, and 270 million people have been lifted out of poverty.

Economy: India is poised to create a new history on the global economic stage. Petroleum Minister Hardeep Singh Puri has asserted that India will surpass Germany and become the world's third-largest economy by 2030. His statement was made at the 77th Foundation Day of the Institute of Chartered Accountants of India (ICAI).

Record Growth in GDP Since 2014

Puri highlighted that India's GDP, which stood at $2.1 trillion in 2014, has reached $4.3 trillion by 2025. This signifies that the economy has more than doubled in a decade. He attributed this economic growth to bold reforms, robust social programs, and financial discipline.

Significant Success in Poverty Alleviation

The Petroleum Minister stated that as a result of the government's policies, over 270 million people have been lifted out of multidimensional poverty. This transformation has been made possible by the impact of schemes like the Pradhan Mantri Awas Yojana, Ayushman Bharat, and Jal Jeevan Mission.

Impact of Pradhan Mantri Awas Yojana and Jal Jeevan Mission

Under the Pradhan Mantri Awas Yojana, approximately 40 million houses have been approved. Furthermore, the Jal Jeevan Mission has provided clean piped water to 154 million rural households. This is considered a major achievement in improving the standard of living in rural India.

The Role of Ayushman Bharat in the Healthcare Sector

Puri stated that under the Ayushman Bharat scheme, over 700 million people have benefited from health insurance coverage of up to ₹5 lakh. This scheme strengthens India's commitment to inclusive development.

FDI Reaches Record Levels

Foreign Direct Investment (FDI) in India has also seen significant growth. Between 2014 and 2025, India attracted $748 billion in FDI. This is 143 percent higher than the period between 2004 and 2014.

Puri mentioned that the number of countries providing FDI has also increased from 89 to 112, which reflects India's global economic credibility.

Significant Increase in the Number of Taxpayers

The number of income tax return filers has also more than doubled in the last decade. While 36 million people filed ITRs in 2013-14, this number reached 85 million by 2024-25. This indicates the increasing responsibility of taxpayers and economic transparency.

Importance of AI in Economic Strategy

Minister Hardeep Puri urged chartered accountants to adopt Artificial Intelligence (AI) and advanced analytics. He said that in the finance profession, it is now necessary not only to do accounting but also to provide strategic advice and make data-driven decisions. Puri said, "Adopting AI has become a necessity, not an option. It is essential to stay competitive in the financial world."

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