India's Economy Set To Expand Eightfold By 2047: Piyush Goyal

Union Commerce and Industry Minister Piyush Goyal, currently on a three-day official visit to Sweden, emphasized India's growing role in the global economy and expressed confidence that India is on track to witness significant economic expansion in the coming decades.

- TBG NETWORK

Speaking in Stockholm on Thursday, Goyal projected that India's economy will grow eightfold by the year 2047, supported by its skilled workforce, rising demand, and decisive leadership.

Highlighting the increasing confidence of global investors in India's growth story, Goyal stated, "The opportunities, the skills, the potential, the demand, the decisive leadership that India has—seeing all this, even Swedish companies believe that the future lies in India."

He noted that India's current trajectory, if maintained, will make it a leading global economic power, with international stakeholders eager to benefit from this anticipated transformation.

The Minister's remarks come at a time when India and the European Union are intensifying negotiations for a comprehensive Free Trade Agreement (FTA).

Goyal shared an optimistic outlook regarding the progress of these negotiations, stating that the two parties are "very much on track" to finalize the deal. "More than half the chapters are ready," he noted, and in terms of market access, negotiations are already "almost 90 per cent ready."