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Tuesday, January 31, 2023

India to become powerhouse driving global growth by 2047: Piyush Goyal

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New Delhi: India is on the path to become a powerhouse driving global economic growth by 2047, Commerce Minister Piyush Goyal said on Sunday.

While interacting with the business community of Southern California, he said conclusion of the Indo-Pacific Economic Framework (IPEF) IPEF is an important milestone for free and fair trade with like minded countries, who share a common objective to have rule based international order and a transparent economic system.

Politically stable and open economies in the Indo-pacific are coming together to expand economic activities amongst each other, he said.

Emphasising that India today is a land of opportunities and a potential market for the business community in the US, he noted that India has the advantage of demographic dividend and its aspirational young population provides a huge opportunity for growth.

The minister mentioned that India is also rapidly transitioning to clean energy, adding that we aspire to achieve 500 GW of green energy capacity by 2030.

Noting that India today has emerged as the trusted partner of the World, Goyal said India has now emerged as a high quality manufacturer of valuable goods and services, given the skillsets and the talent pool available across sectors- IT, textiles, hospitality, gems and jewellery and added that each one of these would provide opportunity for investors looking to engage with India.

“We embark on our journey towards making India a developed nation by 2047, it is important for us to reflect on where we see India in the next 25 years,” he said.

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