On Friday, Union Minister of Commerce Piyush Goyal said India would become a global economic power with collective efforts.

The minister inaugurated the Indian Institute of Foreign Trade (IIFT), Kakinada campus, in Andhra Pradesh, stating that expert human resources management is necessary for Indian commerce to gain more international recognition in the coming times.

Minister said that these human resources would be made available through IIFTs. The establishment of the campus marks the start of a new chapter. Moreover, he added that with political stability, high competitiveness, collective efforts, and a developing economic system, India would become an economic force to reckon with.

He said that the Indian economy is worth USD 3.5 trillion at present. When the country marks its 100th year of independence, with continuous, the Indian economy is likely to reach tenfold in the next 25 years by 2047. The development can only be achieved to the maximum extent by making expert human resources available.

He stated that the central government’s special allocation and actions of budgets under the Atmanirbhar Bharat scheme make India’s economic system enriched and stronger. He added that Andhra Pradesh was thriving in fields such as fisheries and agriculture, and Andhra Pradesh also has various special economic zones.