Daijiworld Media Network – New Delhi
New Delhi, May 30: Union Commerce and Industry Minister Piyush Goyal on Thursday projected an ambitious and optimistic economic roadmap for the country, asserting that India will remain the fastest-growing large economy in the world for the next 30 years.
Speaking at the CII Annual Business Summit 2025 held in the national capital, Goyal underlined India’s resilient economic performance, even amid global uncertainties. “India continues to power global growth through its own momentum,” he said.
Highlighting key indicators, the minister stated that the country has sustained a stable growth rate of 6–7% and is now striving to reach 8% at constant prices. He also lauded the Reserve Bank of India for maintaining inflation below 4% for the past three months, while efficiently managing liquidity and currency controls.
“Today, India holds the fourth-largest foreign exchange reserves in the world at about $690 billion,” Goyal said, praising the robustness of India’s financial systems.
Reaffirming India’s rising stature as a global investment hub, the minister pointed to consistent record-breaking FDI inflows and an impressive CAGR of nearly 20% over the last two decades by Indian companies.
“We are back on the growth trajectory, working actively through international trade and economic relations,” Goyal remarked.
He added that India is making significant headway in trade negotiations with global powers, including the United States and the European Union, while also opening fresh dialogues with New Zealand. Goyal noted that India’s Free Trade Agreements (FTAs) now include progressive investment clauses, although certain funds like investments from Norway’s pension system are not factored into official FDI figures.
Quoting the International Monetary Fund (IMF), Goyal reiterated projections that India will emerge as the world’s third-largest economy by 2027, behind only the United States and China.
Turning to sustainability, Goyal spotlighted India’s cost advantage in green energy. He said renewable sources, combined with storage solutions, are now being offered at Rs3.30 per kilowatt-hour, a rate that makes India an attractive destination for data centres and green tech industries.
“Solar and wind energy, when paired with storage, make a compelling case for infrastructure investments in India,” he added.
Goyal also stressed the Modi government’s commitment to inclusive development. He cited ongoing efforts in free healthcare, quality education, and employment generation as pillars of a dignified life for all citizens.
“Skill development centres are now bridging the gap. No child should be deprived, and no man should be left behind,” the minister stated passionately.
Concluding his address, Piyush Goyal encapsulated India’s journey in three defining words — macroeconomic strength, global trust, and domestic aspiration.
“Our growth is not just about numbers. It is about the aspirations of 140 crore Indians,” he affirmed.