Every partner needs to collaborate for India to become 3rd-largest economy by FY28: FM Nirmala Sitharaman

PTI Updated - January 27, 2024 at 07:04 PM.

Every partner needs to collaborate to help India’s GDP surpass $5 trillion by 2027-28, says Finance Minister Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman | Photo Credit: ANI

Finance Minister Nirmala Sitharaman on Saturday said the initiatives of the Customs department like Faceless Assessment and Single Window Clearance need to evolve with the overall objective to grow trade as every partner needs to collaborate to help India's GDP surpass $5 trillion by 2027-28.

In a written message on the occasion of 'International Customs Day 2024', Sitharaman said with a common purpose of ease of doing business for nation-building during India's 'Amrit Kaal', all the stakeholders need to come together and contribute for benefits to citizen of India.

She said this year's theme of International Customs Day which is "Customs Engaging Traditional and New Partners with Purpose" resonates with the Motto of 'Sabka Saath Sabka Vikas' given by Prime Minister Narendra Modi.

"Every partner needs to collaborate to put India on course to becoming the third-largest economy by 2027-28, with a GDP surpassing $5 trillion," Sitharaman said.

Many initiatives taken by Customs such as Faceless Assessment, Direct Port Delivery, Single Window Clearance, and AEO Scheme need to evolve with overall objective of growth of trade and business, she added.

Special focus on MSMEs, new startups and inclusivity will align with the vision of the prime minister, Sitharaman added.

Published on January 27, 2024 12:47

This is a Premium article available exclusively to our subscribers.

Subscribe now to and get well-researched and unbiased insights on the Stock market, Economy, Commodities and more...

You have reached your free article limit.

Subscribe now to and get well-researched and unbiased insights on the Stock market, Economy, Commodities and more...

You have reached your free article limit.
Subscribe now to and get well-researched and unbiased insights on the Stock market, Economy, Commodities and more...

TheHindu Businessline operates by its editorial values to provide you quality journalism.

This is your last free article.