NEW DELHI, Dec 12: Union Minister for Commerce and Industry, Piyush Goyal on Thursday expressed strong optimism about India’s economic growth, projecting that the country’s exports will surpass USD 1 trillion within the next two to two-and-a-half years. Speaking at the India Economic Conclave hosted by Times Network, Goyal highlighted that India’s exports are set to exceed USD 800 billion this year, reflecting the nation’s expanding global trade footprint.
Goyal emphasized the global recognition India has gained as a favorable investment destination, underscoring the country’s growing economic prominence. “Exports will cross $800 billion this year, and about a trillion dollars in the next two, two and a half years. Across the world today, there is a recognition that the best investment opportunity is in India,” he remarked.
The minister outlined the government’s comprehensive approach to driving economic growth, which includes large-scale infrastructure rollouts, social welfare programs aimed at empowering citizens, and initiatives focusing on women-led development. He noted that as more women enter the formal economy, they will play a leading role in ensuring inclusive growth. The government, he said, is committed to ensuring no child in India is deprived of basic amenities like food, clothing, shelter, and healthcare.
Goyal also emphasized India’s rapid progress in infrastructure development, pointing out that the length of roads and expressways has nearly tripled over the past decade. In addition, he praised the country’s technological advancements, noting the swift rollout of 4G networks, even in remote areas, and the ongoing deployment of 5G at an unprecedented pace.
The minister further highlighted the growth in Foreign Direct Investment (FDI), which has seen a 119 percent increase over the last decade compared to the previous one. He revealed that two-thirds of the total FDI inflows of USD 1 trillion have come in the last 10 years, signaling strong global confidence in India’s economic potential.
Looking towards the future, Goyal projected that India is set to become a USD 30-35 trillion economy by 2047, aligning with the nation’s vision of becoming a prosperous and developed country.
