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India can become $5 trillion economy much before 2028: said Hardeep Puri

Puri, the minister for petroleum and natural gas as well as housing and urban affairs, said India is aware of its commitments towards sustainability goals and will meet all the targets in time while meeting the requirements of a growing economy.

News Arena Network - India - UPDATED: January 16, 2024, 10:43 PM - 2 mins read

Minister Hardeep Singh Puri stated that India can achieve a $5 trillion economy before 2028. He highlighted the importance of a well-planned energy transition to protect the interest of the country's sizable population.

India can become $5 trillion economy much before 2028: said Hardeep Puri

Union minister Hardeep Singh Puri

Union Minister Hardeep Singh Puri on Tuesday, asserted that India can become a five trillion dollar economy much before 2028 and said the country's energy transition needs to be done in an orderly manner to safeguard the interests of it's large population.

The minister for petroleum and natural gas as well as housing and urban affairs, said India is aware of its commitments towards sustainability goals and will meet all the targets in time while meeting the requirements of a growing economy.

"I don't think we need to wait till 2028 to become a five trillion dollar economy and if you look at what is happening, it should happen much before 2028", he said while listing various macroeconomic parameters.

He was speaking at a CII-EY breakfast session on 'accelerating India's energy transition towards sustainable economic growth' on the sidelines of the World Economic Forum Annual Meeting 2024.

Puri said it is even more so important for a country like India, which is also now the world's most populous country.

He said the traditional market, which was dependent for energy on a defined number of energy on a defined number of suppliers, who could at will decide price etc, that dynmaic doesn't seem to be working.

"I am confident that all the targets we have for 2030 on the energy transition, we will meet them, our green hydrogen policy will succeed in a big way", asserted the Minister.

"We are making excellent progress in achieving our goals for aviation fuel. India currently offers great opportunities for incorporating biofuels, and we are surpassing our targets well in advance. The creation of the Global Biofuel Alliance serves as yet another testament to our achievments", he remarked.

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