India’s Prime Minister Narendra Modi has called for targeting double-digit GDP growth rate for breaking into the $5 trillion economy club and expressed hope that India’s share in world trade will double to 3.4 percent.

He made these remarks while inaugurating new office complex of India’s Ministry of Commerce in New Delhi.

Modi, who heads the BJP-led government in India, said his government has taken many steps in four years to ease the process of doing business in India while maintaining macroeconomic indicators like inflation, fiscal deficit within limits.

India’s growth rate, he stated, has touched 7.7 percent in the last quarter of 2017-18 but they are aiming beyond 7-8 percent growth and ultimately double-digit expansion.

“The need of the hour is that we should work towards achieving the target of double digit figure from 7-8 percent currently,” Modi said, adding that the world was watching as to when India will break into the $5 trillion economy club by doubling its economy.

Modi also emphasized the importance of foreign direct investment inflows and foreign exchange reserves, which he said were are at record highs.