'Inherited mess, India ready for global dominance'

The National Democratic Alliance (NDA) government inherited an economy which was in a mess but we are set to become the world’s largest economy in the next two years, said Union minister for commerce and industry Piyush Goyal.

- Dhairya Gajara

On the concluding day of the World Hindu Economic Forum (WHEF), Goyal criticised the Congress and the UPA government for taking flawed decisions that, he said, hurt the country’s economy in three stages: 1947-1991, 19911998, and 2004-2014.

Goyal said that when NDA government came to power in 1998, India was facing high inflation of around 8%, low growth of 4.3%, low foreign reserves of only $29 billion but it reversed the condition within six years with high growth of 8%, low inflation of 4% and foreign reserves of $103 billion.