Union Commerce and Industry Minister Piyush Goyal on Monday said India is on track to become one of the world’s top three economies within the next two to two-and-a-half years, projecting a $30 trillion economy by 2047.
Speaking at the Platinum Jubilee Celebrations of the Engineering Exports Promotion Council (EEPC) at Vigyan Bhawan, Goyal highlighted India’s transformation over the past decade. “Under Prime Minister Narendra Modi’s leadership, India has risen from being among the five weakest economies in 2014 to becoming one of the top five. In the next two-and-a-half years, we will be among the top three,” he said.
The event, attended by President Droupadi Murmu and several heads of mission, also saw Goyal underline India’s record 7.8% GDP growth in the last quarter. He stressed that reforms like the Goods and Services Tax (GST) have boosted economic activity, created jobs, and increased consumer spending.
Citing the growth of engineering exports, Goyal noted, “In 1970, EEPC exported goods worth $10 million. Today, that figure has reached $116 billion.” He urged Indians to prioritize high-quality domestic products, saying the world’s growing trust in India should be matched by confidence at home.
On sustainability, the minister affirmed India’s responsible role in tackling climate change, noting that the country ranks among the top three globally in sustainability efforts. “No matter how big the challenge, India has the strength to face it. We neither fear nor bow down,” Goyal asserted.
