India going to be motor & engine of growth in world: Consul General Sandeep Chakravorty

India is going to be the motor and engine of growth in the world, Consul General Sandeep Chakravorty has said as he rang the closing bell at NASDAQ in Times Square to celebrate India's 71st Republic Day. Chakravorty on Friday said India is poised to become the third largest economy in the world in the coming years.

India is currently an almost three trillion dollar economy and the Narendra Modi government has set the goal of making India a USD 5 trillion economy by 2024, with hopes to see the country become a USD 10 trillion economy as the decade ends in 2030.

"India is going to be the motor and the engine of growth in the world," Chakravorty said on Friday at the NASDAQ Marketsite in the heart of Times Square.

While currently four Indian companies are listed on NASDAQ, he expressed hope that by the end of the decade, more than 150 Indian companies will be listed in NASDAQ, making India not only an engine of world growth, "but India will also be a growth center, engine of growth for NASDAQ."

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Chakravorty also applauded the strong India-US relationship and recognised the contribution of the Indian-American community in fostering close and deep ties between India and the US.

"We have excellent political relationship. India is a top investment destination for US companies," he said adding that "if there is a relationship which is important to the world, it is the India-US relationship."

Chairman of Asia Pacific for NASDAQ Bob McCooey welcomed Chakravorty to NASDAQ to commemorate India's 71st Republic Day. He said he looks forward to having more companies from India list on the NASDAQ in the years to come.

Chakravorty was accompanied by Deputy Consul General Shatru Sinha and officials from the Consulate. Flanked by his family and members of the Indian-American community, Chakravorty rang the closing bell as those present clapped and cheered loudly.

Indian diplomats and visiting dignitaries are traditionally invited to ring the Closing and Opening Bells at the NASDAQ Marketsite to commemorate India’s Independence and Republic Days.

The Indian Consulate and India’s Permanent Mission to the UN will host flag-hoisting ceremonies on January 26 to celebrate the Republic Day.

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