India is poised to remain the fastest-growing major economy for the next three decades, driven by robust fundamentals and a favourable investment climate, according to Union Commerce and Industry Minister Piyush Goyal.
Speaking at the CII Annual Business Summit 2025 in New Delhi, Goyal highlighted that India has maintained a steady growth rate of 6&ndash;7% and is now aiming to reach 8% growth at constant prices. Despite global economic challenges, India continues to perform strongly among emerging markets.
He pointed to India&rsquo;s strong macroeconomic indicators, including the world&rsquo;s fourth-largest foreign exchange reserves at approximately $690 billion and inflation levels consistently below 4% over the past three months. The Reserve Bank of India, he noted, has successfully managed liquidity and currency stability.
&ldquo;India remains a compelling investment destination,&rdquo; Goyal said, adding that Indian companies have delivered nearly 20% CAGR returns over the past two decades. He credited consistent FDI inflows and effective trade policies for keeping the country on a solid growth trajectory.
He also discussed progress in international trade, noting significant advancements in Free Trade Agreements (FTAs) with countries such as the UAE, Australia, the UK, and the four EFTA nations &ndash; Iceland, Liechtenstein, Norway, and Switzerland. Negotiations are ongoing with the US, the EU, and New Zealand.
Highlighting the EFTA agreement, Goyal revealed that it includes a groundbreaking investment commitment of $100 billion over 15 years, with the potential to generate a total investment of $500 billion. This investment could attract an additional $500 billion through the surrounding economic ecosystem, excluding contributions from the Norwegian Pension Fund.
&ldquo;This is the first FTA globally to include such a forward-looking investment clause,&rdquo; he said.
Goyal reaffirmed confidence in India&rsquo;s economic trajectory, noting the IMF's projection that India will become the world&rsquo;s third-largest economy by 2027. Despite global uncertainty, he stressed that India continues to fuel global growth through trade, innovation, and resilient supply chains, underpinned by inclusive development.&nbsp;

Piyush Goyal says India is set for 30 years of growth with FTAs, record FDI, and strong fundamentals

India to Stay Fastest-Growing Economy: Goyal

Piyush Goyal says India is set for 30 years of growth with FTAs, record FDI, and strong fundamentals

May 30, 2025 | 15:59 IST