Union Commerce and Industry Minister Piyush Goyal stated emphatically on Wednesday, October 8, 2025, that no force could prevent India from achieving developed nation status by 2047. He attributed this momentum to the government’s extensive initiatives aimed at bolstering the domestic economy, expanding critical infrastructure, and fostering international trade.
Addressing the 6th Global Fintech Fest (GFF) in Mumbai, the Minister underscored India’s enhanced global standing, noting that the world now views the nation with significant trust and confidence. He highlighted India’s assurance of high-quality talent, exceptional skills, superior goods and services, and a steadfast commitment to timely project delivery.
Minister Goyal enthusiastically shared his thoughts on social media, expressing his pleasure at speaking at the Global Fintech Fest 2025. He emphasized India’s remarkable progress under Prime Minister Narendra Modi’s leadership in leveraging technology to build trust, promote trade, and ensure inclusive technological growth for everyone.
India, he added, has transitioned from merely participating in the fintech sector to becoming a primary architect, spearheading global initiatives in this space.
“I firmly believe that nothing can stop India from becoming a developed and prosperous nation as we approach our 100th year of independence,” Mr. Goyal affirmed. “This ambitious goal hinges on our adoption of cutting-edge technology, our digital world keeping pace with global advancements, and our expanding trade partnerships worldwide. Fundamentally, all of this relies on India being recognized as a trusted global partner.”
Mr. Goyal further elaborated on India’s economic aspirations, suggesting that an economy valued at $30, $32, or $35 trillion by 2047 is not just a dream but a tangible possibility. “Our colleagues in the finance world can quickly verify this projection,” he noted, stressing the collective commitment towards achieving this vision.
He reiterated the government’s dedication to boosting the domestic economy through significant investments in infrastructure development and strategies that encourage consumption-led growth.
The government remains deeply committed to expanding international trade, a commitment that persists even amidst global turbulence. He pointed out that despite daily reports of worldwide instability, India continues its upward trajectory in trade relations.
Mr. Goyal concluded by stating that India is currently at an inflection point, characterized by robust macroeconomic fundamentals, flourishing trade ties with developed nations, and a strategic focus on empowering consumers through high-quality offerings and a low-tax regime.
Regarding India’s export performance, he mentioned an estimated 4-5 percent growth in combined goods and services shipments, with official data expected to be released the following week.