Piyush Goyal Predicts India’s Rise to Become the Third-largest Economy by 2027-28

India is projected to become the world’s third-largest economy by 2027, Union Minister Piyush Goyal said while speaking to the Indian diaspora community in France on Monday. He mentioned that India currently holds the fifth position and has a 3.5 trillion-dollar economy, which is expected to increase to 30-35 trillion dollars by 2047, coinciding with India’s 100 years of independence celebration.

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According to the Minister, exports amounted to 676 billion US dollars in the previous year, and the target was to represent the optimism of the energetic Indian youth. In the 75th year of independence, the country surpassed the goal by achieving 750 billion USD in exports. The Minister also emphasized that India is currently becoming a preferred destination as a global pharmacy, a world’s food provider, and a reliable partner to other nations. He stated that there is a general consensus in recognizing the leadership of PM Modi in addressing the current global challenges.

During his speech to the Indian diaspora in Paris, Goyal expressed the significant value that India places on its partnership with France. He acknowledged that the collaboration between the two countries is expected to expand, both in terms of opportunities and friendship, and highlighted the crucial role that the audience would play in strengthening the partnership.

According to Goyal, PM Narendra Modi is globally recognized as the most popular and respected leader, who is dedicated to the welfare of India and the world. He further added that the world acknowledges his leadership as a proponent of the idea of ‘One Earth, One Family, One Future’. Goyal also commended the Indian diaspora, stating that they represent the new India that boasts of abilities, potential, proficiency, and self-assurance. He referred to the diaspora as “Rashtradoots,” who are making valuable contributions to their Karmabhoomi (place of work) and Matrabhoomi (motherland).

During his visit to Paris for the India-France Business Summit, which celebrated 25 years of friendship between the two nations, Goyal urged the Indian diaspora to participate in India’s progress and promote the country’s culture in France. He emphasized that with their help, India could accomplish substantial advancements in the Amrit Kaal (the era of nectar), and invited them to join India on this journey. Goyal’s words “Yahi Samay Hai, Sahi Samay Hai” further highlighted the importance of seizing the moment and acting in the right direction.

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Co-chaired by Piyush Goyal and Olivier Becht, France’s Minister delegate of Foreign Trade, Attractiveness, and French Nationals Abroad, the India-France Business Summit was held in Paris on Tuesday to mark the 25 years of friendship between the two nations. The summit focused on addressing vital issues like sustainable development, emerging technologies, defense partnerships, and Indo-Pacific cooperation.

A business summit and CEO roundtable are being organized by the Embassy of India in Paris, in association with Medef, CII, Business France, and IFFCI. The event has already seen more than 400 registrations, indicating a high level of enthusiasm among potential attendees. Additionally, Minister Goyal is slated to engage with business leaders from various industries in France and participate in the CEOs roundtable.