India is poised to remain the fastest-growing large economy in the world for the next 30 years, according to Union Minister for Commerce & Industry Mr. Piyush Goyal, speaking at the Confederation of Indian Industry (CII) Annual Business Summit 2025. Highlighting a blend of strong macroeconomic fundamentals, steady foreign investment, and inclusive development policies, Mr. Goyal outlined the long-term vision of a rising economic superpower preparing for a prosperous India by 2047.

He stated that India’s economy has been growing at a steady rate of 6-7%, and the Government is aiming for 8% growth at constant prices. This robust performance is particularly significant given international upheavals and economic uncertainties, where most countries are facing slower growth, rising inflation, or capital flight. Despite these external pressures, India remains one of the best-performing emerging markets, setting an example for global resilience.

One of the most remarkable achievements has been India’s climb in foreign exchange reserves, which currently stand at approximately Rs. 58,86,390 crore (US$ 690 billion), making it the fourth largest in the world. This financial cushion provides India with an important buffer against global economic shocks and enhances investor confidence.

In line with this stability, inflation has been successfully contained, remaining below 4% for the last three months. The Reserve Bank of India (RBI) has played a crucial role in managing liquidity and maintaining currency stability, which contributes to a healthier business environment and better living conditions for the population.

India has emerged as a prime destination for global investment, with Foreign Direct Investment (FDI) consistently breaking previous records. Mr. Goyal emphasised the success of Free Trade Agreements (FTAs) with multiple countries, including the UAE, Australia, the United Kingdom, and the EFTA bloc—comprising Iceland, Liechtenstein, Norway, and Switzerland.

The EFTA countries have already committed Rs. 8,53,100 crore (US$ 100 billion) in FDI over the next 15 years, which is expected to snowball into Rs. 42,65,500 crore (US$ 500 billion). Moreover, India’s growing economic ecosystem could potentially attract an additional Rs. 42,65,500 crore, indicating immense confidence in India’s long-term growth potential.

He proudly stated that the International Monetary Fund (IMF) projects India to become the world’s third-largest economy by 2027, overtaking major economic powers. As the fastest-growing economy, India is increasingly powering global economic growth, becoming an anchor of stability and momentum in the global south.

Mr. Goyal highlighted that India’s inclusive development model is foundational to its economic expansion. With a strong emphasis on ease of doing business, the Government is focused on simplifying compliance, promoting self-certification, and empowering micro, small, and medium enterprises (MSMEs).

Technology and future readiness remain central to India’s economic vision. He noted that renewable energy, combined with energy storage, is available in India at just ₹2.30 per kilowatt hour, among the lowest globally, making the country highly attractive for energy-intensive industries like data centres. This technological edge is helping India expand its digital infrastructure, especially in Tier II and Tier III cities.

Mr. Goyal also reiterated Prime Minister Narendra Modi’s vision for a developed India by 2047, centred on dignity, healthcare, education, and employment for all, especially the most vulnerable. The country’s path forward is defined not only by GDP numbers but also by human-centric development, ensuring social inclusion along with economic expansion.

Another vital indicator of India’s strength is the consistent improvement in international ratings and rankings. Several global agencies have upgraded India’s economic outlook, citing political stability, a young demographic, and digitally inclusive policies as drivers of long-term prosperity.

In the realm of trade, India is also strategically expanding its export markets while reducing reliance on specific geographies. The focus is on diversification of trade partners, building local capabilities, and leveraging strategic manufacturing zones under schemes like PLI (Production Linked Incentives) to generate high-skilled employment and boost exports.

The Government’s push for “Atmanirbhar Bharat” (Self-reliant India) is also yielding results in sectors ranging from defence and aerospace to semiconductors and green technology. India’s emphasis on value-added exports and manufacturing depth is making it more competitive globally.

Mr. Goyal concluded by stating that India’s growth story is built on trust, transparency, and transformation. The aspirations of 140 crore Indians, combined with bold policy decisions, global respect, and a thriving entrepreneurial spirit, are preparing the country to become a global economic powerhouse.

This landmark speech at the CII Annual Business Summit 2025 reinforces the notion that India’s economic narrative is not a short-term sprint, but a long-term marathon. As the world’s fastest-growing economy, India is not only fueling global economic engines but is also redefining what inclusive and sustainable development looks like in the 21st century.

From record-breaking FDI inflows and macroeconomic stability to a vision for 2047, India is strategically and sustainably crafting its place as a leader on the world stage, and investors, global institutions, and citizens alike are aligning with this unprecedented growth journey.

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