India to Add $26 Trillion by 2047 in "Unparalleled" Growth Opportunity: Goyal

Speaking on the second day of the Global Economic Cooperation (GEC) 2026 summit, the Minister described this scale of growth as "unparalleled in history."

"Between now and 2047, India is expected to add approximately $26 trillion to its economy -- a scale of growth opportunity that is unparalleled in history and unlikely to be replicated anywhere else in the world," Minister Goyal stated during his keynote address.

In a post on X, Goyal highlighted India's role as a stable and trusted partner for international business.

"Delighted to interact with Dr. Vijai ji during a fireside chat at the Global Economic Cooperation Summit in Mumbai. Emphasised how the trade agreements concluded under PM Narendra Modi ji's leadership prioritise our national interests, with negotiations undertaken from a position of strength. Also, underscored how India has emerged as an attractive investment destination and a trusted global partner, offering stability, scale, and long-term opportunities for businesses across sectors, backed by sustained economic growth."

The Minister noted that India has concluded nine trade agreements in the last four years. He explained that these deals are designed to secure market access for sectors like textiles, pharmaceuticals, and leather while safeguarding sensitive areas.

"A free trade agreement, for us is an invitation to partner in India's future, to participate in a journey that will take India from the world's fourth-largest economy today to the third largest by 2027-28, and ultimately to a USD 30-35 trillion developed nation by 2047," he said.

Organised by the Future Economic Cooperation Council (FECC) alongside the Ministry of External Affairs and the Government of Maharashtra, GEC 2026 includes delegations from the US, UK, UAE, France, and Singapore. The forum focuses on practical frameworks for supply chain diversification, artificial intelligence, and infrastructure capital.

Goyal said India has negotiated trade agreements from a position of strength.

He said India doesn't engage with the world as a weak country.

"We are negotiating for the future. We may have had many issues in the past, but what we are offering is an opportunity to participate in India's future. There is no opportunity mankind has ever provided which can come close to the India opportunity from now until 2047 and beyond. We will be adding 26 trillion dollars to our economy. We have never seen this kind of growth."

He said India is today at the forefront of building alliances, friendships, aligning its investment with the rest of the world.

"In the end, we are looking at a 30-35 trillion dollar economy by the end of 2047 to power India into the league of developed nations. Gone are the days when one could live in isolation; now one has to secure markets, attract investment, secure trade opportunities, engage with countries with the best technologies, and open opportunities for our youth. It is all about growth imperatives," he said.

Referring to the India-US Interim Trade Agreement, he said the country's farmers and MSMEs are fully protected.

"Our farmers and MSMEs are fully protected. Not a single farmer will have cause for concern," he said.

Reflecting on his working relationship with the Prime Minister, Piyush Goyal described PM Modi as a mentor who encourages lateral thinking and team unity. "He is like a father," Goyal said.

"He is truly a person who carries his team with him, mentors them, guides and encourages lateral thinking, helps navigate situations and is very patient. He also helps you connect the dots. The PM is very responsive."

- ANI