India working towards becoming USD 5 trillion economy by 2025: Kovind

Athens, June 18

India is striving to become a USD 5 trillion economy and the world’s third largest consumer market by 2025, President Ram Nath Kovind has said as he highlighted investment opportunities in the country.

Kovind, the first Indian president to travel to Greece in 11 years, arrived here on Saturday on the first leg of his three-nation tour.

Addressing the diaspora here, he said his visit would strengthen ties between India and Greece.

Kovind praised overseas Indians for playing an important role in improving bilateral relations.

“Greece and India presented the ideals of civilisation and culture in the ancient world. The relations between the two countries are very old and deep. Greek historian Megasthenes introduced India to the world through his book ‘Indica’,” the President said.

“We are working towards making India a USD 5 trillion economy and the world’s third largest consumer market by 2025. According to the World Bank and IMF, our growth rate is going to be high,” he said.

Currently India’s economy is estimated at USD 2.5 trillion.

Kovind said India had a very strong position in the world with the perspective of democracy, demographic divided and demand.

“We are proud of our overseas Indians and their successes. Today there are plenty of opportunities for business, innovation and investment in India. I hope that whatever you can do for the development of India for the motherland, you will do that,” he said.

India-Greece bilateral trade stands at USD 530 million and some Indian companies are also present in the infrastructure, pharmaceutical and steel sectors in the central European nation.

Greece is home to a 12,000-strong Indian diaspora.

Kovind will also travel to Surinam and Cuba during his trip. PTI