Mr. Piyush Goyal, Union Minister of Commerce and Industry, forecasted at the Amazing Goa Global Business Summit 2024 on Friday that India’s economy would grow to $35 trillion in the next 25 years. Goyal emphasised India’s strong economic trajectory, expressing optimism that the country, currently valued at $3.5 trillion, will reach $35 trillion within the next quarter-century. He said that the twenty-first century is India’s moment to shine, predicting that it will become the world’s third-largest economy within three years.
Goyal credited India’s potential to its strong economic fundamentals, which include stable inflation, substantial foreign exchange reserves, and a favourable investment environment. These conditions, he stated, have resulted in foreign direct investment (FDI) doubling over the last decade compared to the prior one. Reflecting on India’s shift from one of the “fragile five” economies in 2014 to the world’s fifth-largest, Goyal praised Prime Minister Narendra Modi’s leadership, citing his ambition for stability and progress. Goa’s CM Dr. Pramod Sawant reiterated this view, emphasising the state’s aim to expand beyond tourism and become a destination for developing sectors. Former Union Minister Suresh Prabhu complimented India’s low-risk investment appeal, which has cemented the country’s status as a reliable global partner.
