India doesn’t require Modi to become third largest economy in the world: Yechury

Updated - April 19, 2024 09:58 am IST - Kozhikode

CPI(M) general secretary Sitaram Yechury has said that India does not require Narendra Modi or the BJP to become the third largest economy in the world.

He told the media here on Thursday that India would get that status irrespective of who was in power. “You can be the Prime Minister of India and even then by 2027, India will be the third largest economy. Why? Due to the rate at which our economy is growing because of our numbers. Of the 140 crore people, everybody contributes something or the other to the Gross Domestic Product (GDP). The rate at which our GDP is growing is faster than the rate at which Japan and France are growing. So, by 2027, we will overtake them,” Mr. Yechury said. Thus, he said, the “Modi guarantee” to take the economy to further heights was devoid of facts.

However, Mr. Yechury said the government was not talking about how India had one of the lowest per capita GDP in the world. “In terms of per capita GDP, you are at 142 out of the 180 countries. The lowest per capita GDP among all the G-20 countries, among all BRICS countries. Even if you become the third largest economy, the U.S. economy will be six times larger, and China, which is the number two economy, will be five times larger than us,” he added.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.