Piyush Goyal: India Set to Be Fastest-Growing Major Economy for Next 30 Years
New Delhi, May 30 (TheTrendingPeople.com) — Union Commerce and Industry Minister Piyush Goyal has projected a robust future for the Indian economy, asserting that India is poised to remain the fastest-growing large economy in the world for the next three decades.
Speaking at the Confederation of Indian Industry (CII) Annual Business Summit 2025, Goyal emphasized India’s resilience in the face of global economic uncertainty. “India continues to deliver consistent growth between 6–7%, and we aim to push it further to 8% at constant prices,” he said.
India: A Compelling Investment Destination
Goyal painted a confident picture of India’s economic fundamentals, underlining its attractiveness to global investors. “Over the past 20–25 years, Indian companies have delivered nearly 20% CAGR returns, making India a compulsive investment destination,” he noted.
He added that Foreign Direct Investment (FDI) inflows are scaling new heights, with India back on a strong growth trajectory despite ongoing global upheavals.
Record Forex Reserves, Low Inflation
India now boasts the fourth-largest foreign exchange reserves in the world, standing at approximately $690 billion, Goyal highlighted. He praised the Reserve Bank of India (RBI) for maintaining inflation below 4% over the past three months, balancing currency stability and liquidity effectively.
“Even amid global volatility, we are one of the better-performing emerging markets,” Goyal told business leaders and industrialists gathered at the summit.
Global Trade Relations Drive Growth
Goyal underscored India’s active progress on international trade deals. He highlighted concluded Free Trade Agreements (FTAs) with countries like the UAE, Australia, the UK, and EFTA nations (Iceland, Liechtenstein, Norway, and Switzerland), while ongoing negotiations continue with the United States, European Union, and New Zealand.
Notably, the EFTA bloc has committed to investing $100 billion in FDI over the next 15 years, which Goyal said is likely to catalyze a $500 billion investment ecosystem. An additional $500 billion in potential spin-off investment could also follow, excluding inflows from sovereign wealth sources like the Norwegian Pension Fund.
“This is not just ambition—it’s a concrete investment roadmap,” Goyal stated, noting that this FTA is the first in the world to include a forward-looking investment clause of this scale.
India’s Economic Outlook Remains Strong
Referring to the International Monetary Fund (IMF) projections, Goyal pointed out that by 2027, India will emerge as the world’s third-largest GDP, surpassing major global economies.
“India continues to power global growth. Despite volatility, uncertainty, and complexity in global markets, we remain the beacon of consistent economic performance,” he affirmed.
Inclusive Growth Is Non-Negotiable
The minister also emphasized the importance of inclusive growth, warning that no growth in trade, innovation, or supply chain resilience can be truly meaningful unless it is inclusive and equitable.
As India positions itself for a leading role in the global economy, Goyal's message was clear: India is not only rising—it’s doing so with purpose, partnerships, and the power to reshape global trade.
For more updates on India’s economic progress, global trade pacts, and investment trends, stay tuned to TheTrendingPeople.com.