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‘India will become a USD 5 trillion economy by 2022’: Srinivas Dempo


Panaji: Srinivas Dempo, Chairman of the Dempo Group of companies, on Saturday expressed confidence that India would become a USD Five trillion economy by the year 2022. Delivering the valedictory address at the concluding ceremony of the Goa BizFest 2018 at the SP Mukherjee Stadium at Bambolim near the city, he said, “The Indian economy is growing at the rate of 7 per cent and the world is envying us. We are presently a USD 2.5 trillion economy and I am very bullish that India will become a USD 5 trillion economy very soon.” According to Mr Dempo, India needed four components, namely ‘roti’ ( food), ‘kapda’ (clothes), ‘makaan’ ( home) and ‘bandwidth’ ( internet connectivity) to become a leading global economy.  “If these four critical components fall into place, India will become a very powerful global economy,” he said. Complimenting the Business Networking International (BNI), Goa Regional team, for organising what he termed as a ‘very successful’ Goa Bizfest 2018, Mr Dempo said the passion with which BNI members networked with each other and the business world was commendable. “Passion fuels ideas and ideas drive business,” he said. Mr Dempo emphasised the need for Indian businesses to focus on reaching out to the masses. Quoting the example of Reliance Jio, which according to him, had made mobile telephony accessible to the masses of the country, he said, “It is important for Indian businesses, both small and big, to bridge the gap between the rich and the poor.”

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