Union Commerce and Industry Minister Piyush Goyal stated that India is projected to boost its economy by around $26 trillion by 2047, a growth scale unprecedented in history. Speaking at the Global Economic Cooperation (GEC) 2026 forum, Goyal emphasized the end of economic isolation, highlighting India’s focus on alliances, friendships, and trade agreements to benefit various sectors like farmers, MSMEs, women, and industries.
Goyal underscored India’s economic diplomacy approach and its evolution into a reliable global trade and investment partner. He mentioned India’s ambition to become the world’s third-largest economy by 2027–28 and a developed nation worth $30–35 trillion by 2047. Goyal welcomed partnerships through free trade agreements, emphasizing India’s readiness to engage sincerely with interested parties.
The forum gathered ministerial and business delegations from major global economies like France, the United Kingdom, the United Arab Emirates (UAE), the United States, Australia, Seychelles, Sri Lanka, and Singapore. Goyal credited India’s success in securing agreements with 38 developed nations to a clear national purpose and strategic negotiations conducted from a position of strength.
GEC 2026 convenes amidst global economic shifts, aiming to establish resilient and inclusive frameworks for economic cooperation in a multipolar world. Minister of External Affairs S. Jaishankar stressed the importance of contributing to global growth, stability, predictability, and trust as India progresses towards its goal of Viksit Bharat by 2047. Maharashtra Chief Minister Devendra Fadnavis called for shaping an economic order that is stable, inclusive, and strategically resilient.
