Indian Economy News

India to be 3rd largest economy in a few years, cooperatives to be crucial: Mr. Amit Shah

  • IBEF
  • September 14, 2022

Minister of Home Affairs and Cooperation, Mr. Amit Shah, stated that India will become the world's third-largest economy by the end of the decade, with the cooperative sector playing a critical role. Speaking at the IDF World Dairy Summit 2022, he stated that the Union government is committed to making cooperatives mainstream, and that milk cooperatives in particular will be expanded to two lakh more villages by 2024, doubling the coverage area, and that this growth engine will be visible to the rest of the world soon.

From 11th position in 2014, India went up to fifth-largest economy in the world. The Indian economy is predicted to break into the top three by the end of this decade. While talking about dairy, he mentioned that the cooperative model has been successful in India and is expected to be more robust in the future. India has approximately eight crore dairy farmers, with cooperatives having spread to two lakh villages.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.