India Could Be 2nd Largest Economy By 2030: PM


Prime Minister Narendra Modi while addressing inaugural address of Petrotech 2019 said that India would continue to be the fastest-growing economy and could be the second-largest economy in the world by 2030.

Leading agencies such as IMF and World Bank project the same trend to continue in the coming years. In an uncertain global economic environment, India has shown tremendous resilience as an anchor of the world economy,” PM Modi said addressing inaugural address of Petrotech 2019 in Greater Noida.

PM Modi said, currently, India is fastest-growing large economy in the world and it “recently became the sixth-largest economy in the world. According to a recent report, by 2030 India could be the second-largest 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.

On the roller coaster movement of crude oil and pricing of petroleum, he said, “We need to move to responsible pricing which balances interests of both producers and consumers. We also need to move toward transparent and flexible market for both oil and gas, only then we can serve energy needs of humanity in optimal manner.”