India to become third largest economy in two years: Vice President

New Delhi: Asserting that India's rise is unstoppable, Vice President Jagdeep Dhankhar on Wednesday said the country will become the third largest economy in the world in two years.

Addressing on the occasion of the 10th National Handloom Day, he expressed confidence that the optimal utilisation will take place to promote handlooms, the need of the hour, the need of the country, and the need of the planet, if we think in terms of climate change.

PSU Watch is now on Whatsapp Channels. Click here to join

The "Be Vocal for Local" clarion call given by the Prime Minister has economic freedom at this core, with handloom products being one of its key elements, said the Vice President.

Strongly advocating economic nationalism, Dhankhar said it is fundamental to the country's "spinal economic growth" and will lead to three key impacts including foreign exchange savings, employment generation and boosting entrepreneurship.

"I want everyone to respect national interest. Can we sacrifice economic nationalism merely for fiscal gain? I have no doubt; no fiscal gain, irrespective of quantum, can justify engaging in imports that are avoidable," said the Vice President.

Pointing out that India is the world's most populous country, Dhankhar observed that "today no one can say we are a nation with potential as we are on the rise."

"The rise is unstoppable, the rise is incremental. I remember the day when I came to the Lok Sabha for the first time 34 years ago, when our economy's size was less than even that of cities like London and Paris and today we are the world's fifth largest economy," he said.

"We will become the third largest economy in the world in two years or even less," said the Vice President.

He called upon the countrymen to pledge and make it a habit to buy handloom products like sarees, kurtas, shawls, etc., so that it becomes a fashion statement, a brand, and leads to higher sales.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)