Union Minister for Commerce and Industry Piyush Goyal expressed confidence in India’s economic trajectory, predicting that the country’s exports would surpass $1 trillion within the next two to two-and-a-half years. Speaking at the India Economic Conclave organized by Times Network, he noted that India is on track to exceed $800 billion in exports this year, demonstrating the country’s increasing presence in global trade.
Goyal highlighted India’s growing reputation as a prime investment destination. He stated that exports are expected to surpass $800 billion this year and approach a trillion dollars within the next two to two-and-a-half years, adding that India is now seen as the best investment opportunity globally.
The minister underscored the government’s comprehensive approach to fostering economic growth. This includes expansive infrastructure projects, social welfare programs, and a focus on empowering women through formal economic participation. He emphasized that women’s involvement will drive inclusive development, ensuring every child in India has access to essential needs like food, shelter, and healthcare.
India’s infrastructure landscape has transformed significantly, with the length of roads and expressways nearly tripling over the past decade. Goyal also praised technological advancements, pointing to the rapid deployment of 4G networks across remote areas and the accelerated rollout of 5G technology.
Highlighting the surge in Foreign Direct Investment (FDI), Goyal revealed a 119% increase over the last decade compared to the previous one. He noted that two-thirds of the total $1 trillion FDI inflows were received in the past 10 years, reflecting global confidence in India’s economic potential.
Looking toward the future, the minister projected that India’s economy could reach $30-35 trillion by 2047. This aligns with the Viksit Bharat vision of transforming India into a prosperous, developed nation where the youth can compete globally. Goyal concluded by emphasizing India’s aspirations and determination to lead on the world stage.
