$5 trillion economy achievable, says K V Subramanian

Hyderabad: It took the Indian economy 55 years to achieve its first trillion dollars after Independence, but added the trillion in merely five years, between 2014 and 2019, said K.V. Subramanian,  chief economic advisor, government of India, adding that India’s dream of becoming a $5 trillion economy might sound highly ambitious but with right kind of push and initiatives in place, it is very doable.

While speaking in the city at at event on Wednesday, he reiterated the importance of incentivising the ‘vicious cycle’ of increasing investments and savings, which in turn would enable and ensure increased productivity and increased demand and exports.

Highlighting three structural factors needed to create a flooding in of investments, he said, “We need a sunset clause, which can take care of small firms, which continue to remain small. We must have a doable policy for MSEMEs,” said Subramanian.