Summary: India is on track to becoming a $30-35 trillion economy in the next two decades, driven by innovation, entrepreneurship, and inclusive growth, according to Commerce and Industry Minister Piyush Goyal. Speaking at the ET Now business summit, he highlighted India’s economic stability, strong macroeconomic fundamentals, and record-high forex reserves. Goyal also emphasized the country’s robust industrial ecosystem and focus on self-reliance, positioning India as a global manufacturing hub. With strategic policies, a young workforce, and increasing global investments, India is set for significant economic expansion.
India is well on its way to becoming a $30-35 trillion economy over the next two decades, driven by a strong focus on innovation, entrepreneurship, and inclusive growth, according to Minister of Commerce and Industry Piyush Goyal. Speaking at the ET Now business summit, Goyal emphasized India’s economic resilience and the structural reforms that have paved the way for sustained growth.
Currently ranked as the world’s fifth-largest economy, India has emerged as a beacon of stability amid global economic volatility. “India has proven to be an oasis of stability in a volatile world. Our strong macroeconomic fundamentals, record-high forex reserves, and well-managed current account balance are key indicators of this resilience,” Goyal stated.
He highlighted the nation’s robust industrial ecosystem and its commitment to self-reliance, which have positioned India as a global manufacturing powerhouse. The government’s push for initiatives such as Make in India and Production-Linked Incentives (PLI) schemes has significantly strengthened the country’s industrial capabilities.
Goyal underscored that India’s economic trajectory is fueled by a young and dynamic workforce, strategic policy decisions, and an unwavering commitment to sustainability and digital transformation. As the country continues to attract global investments and bolster domestic production, it remains poised for unprecedented economic expansion in the coming decades.
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