New Delhi, India—For the next 30 years, India’s economy is expected to develop at the fastest rate in the world, according to Union Minister for Commerce and Industry Piyush Goyal.

In his remarks at the CII Annual Business Summit 2025 in the nation’s capital on Thursday, the minister of commerce emphasized India’s economic achievements.

According to Goyal, the nation has kept up a consistent growth rate of 6-7 percent and wants to raise it to 8% at constant costs. He pointed out that India continues to rank among the top-performing developing economies in spite of global uncertainty.

At over 690 billion dollars, India now has the fourth-largest foreign currency reserves in the world. For the last three months, our inflation rate has been below 4%. Goyal praised the Reserve Bank for striking a good balance between currency management and liquidity.

The Minister emphasized India’s attractiveness as a place to invest, pointing out that during the last 20 to 25 years, Indian enterprises had produced returns of around 20% CAGR.

“FDI inflows continue to set new records. Working via international trade relations, we are back on the economic trajectory,” he said.

Goyal also discussed India’s commercial ties, saying that bilateral trade deals with the United States and the 27-nation European Union bloc are progressing.

He said that talks have begun with New Zealand and emphasized that investments from the Norwegian Pension Fund are not included toward the FDI total, and that India’s free trade agreement has a provision pertaining to forward-looking investments.

The IMF predicts that by 2027, India’s GDP would rank third globally, according to the Union Minister.

“Despite global volatility, uncertainty and complexity, India continues to power global growth through its own growth,” he said.

He also emphasized how affordable renewable energy is in India, noting that it can currently be purchased at Rs 3.30 per kilowatt-hour when combined with storage.

“Solar and wind plus storage make a compelling case for data centres to come to India,” he said.

Speaking about inclusive development, Goyal reiterated Prime Minister Narendra Modi’s belief in each person’s inherent worth.

Basic necessities, high-quality education, and free healthcare are being met. These days, employment is increasing, and skill development centers are a major factor. “No man should be abandoned, and no child should be denied,” he said.

Goyal concluded by saying that the ambitions of 140 crore Indians, solid macroeconomic foundations, and international confidence are the three pillars upon which India’s progress is based.