The Finance Minister Nirmala Sitharaman on Wednesday said India is expected to overtake Japan and Germany to emerge as the third largest economy in the world by 2027. By 2047, India aspires to be a developed economy,” she said. Talking about India’s ‘Blue economy’, she said, it accounts for roughly 4 per cent of the GDP and represents a sea of opportunities. According to the UNCTAD, India was the 2nd largest exporter of ocean-based goods and services among developing countries in 2020. In terms of international shipments, she said India’s global ranking has risen from 44th place in 2014, to the 22nd rank in 2023.

Source: Hindustan Times November 16, 2023 10:18 UTC