February 17, 2025
1 min read

Goyal: India Racing Toward a $35T Economy

Goyal emphasised that India will emerge as the world’s third-largest economy sooner than anticipated…reports Asian Lite News

Minister of Commerce and Industry Piyush Goyal on Sunday expressed confidence that India is on course to achieving a $30-35 trillion economy within the next two decades, driven by innovation, entrepreneurship, and inclusive growth.

The minister emphasised that India will emerge as the world’s third-largest economy sooner than anticipated, considering the country’s fast rate of economic growth.

“India is currently the fifth-largest economy and 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 said in his address at the ET Now business summit.

Highlighting the fast pace of India’s economic growth, they said the country’s rising global influence, is due to its push for manufacturing and innovation, and the government’s commitment to inclusive, women-led development.

“Today, we are the voice of the Global South, shaping international trade and economic policies.” He remarked.

He further stated that India’s robust industrial ecosystem and relentless focus on self-reliance are making the country a global manufacturing powerhouse.

Highlighting the country’s startup revolution, Goyal said, “India is now home to the world’s third-largest Startup ecosystem, with over 115 unicorns and 160,000 registered Startups. Our young entrepreneurs are redefining business and technology, proving that India is a land of limitless opportunities”.

The minister also emphasised the transformation that was taking place in India’s infrastructure. “The last decade has seen an unprecedented surge in infrastructure development—modern highways, world-class airports, expanding railway networks, and urban metros are driving economic growth at an accelerated pace,” he pointed out.

Goyal also highlighted the critical role of women in India’s economic rise, stating, “The rise of India’s women is at the heart of our growth story. Female participation in the workforce has increased from 11 per cent a decade ago to nearly 45-50 per cent today. Nari Shakti is shaping India’s future,” he added.

ALSO READ: Gabbard Expresses Commitment to Strengthen US-India Ties

Previous Story

“Breathing Threads” Captivates UK and Global Buyers

Next Story

India-Philippines Bond Shines in Cebu

Latest from -Top News

Hasina’s Defiant Words Before Ouster

Reportedly before leaving Hasina wanted to record a farewell speech to be aired on television, but military officials declined….reports Asian Lite News Following a violent student uprising last year, the Bangladeshi military

FS Misri in US to Boost Tech, Trade Ties

The meeting, held in Washington, focused on strengthening existing frameworks and building momentum on key tech and trade initiatives…reports Asian Lite News Foreign Secretary Vikram Misri on Wednesday (India time) met with

Activists Targeted Again in Balochistan

The Baloch Yakjehti Committee (BYC) on Tuesday condemned the enforced disappearance of Baloch leader Ghani Baloch, blaming Pakistan’s Law Enforcement Agencies and Frontier Corps….reports Asian Lite News The Baloch Yakjehti Committee (BYC),

Islamabad-Ankara-Baku Axis Sharpens Against India

Both Turkey and Azerbaijan have openly expressed solidarity with Pakistan and backed Islamabad in its military standoff with India, this month….reports Asian Lite News The evolving alliance between Islamabad, Ankara, and Baku

India Targets Pak Terror Ties in Guyana

The delegation met the Guyanese President, Mohamed Irfaan Ali, who had hosted a dinner to celebrate friendship and shared aspirations between the two nations…reports Asian Lite News Congress leader Shashi Tharoor, currently
Go toTop

Don't Miss

Moldovan Foreign Minister in India for first official visit 

EAM thanked Moldova for providing crucial help during ‘Operation Ganga’

G20 Leaders Discuss Global Economy, Health

The first session of the G20 Rome Summit kicked off