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India working towards becoming $30 trillion economy by 2047: Commerce Minister
Aug-25-2026

Union Minister of Commerce and Industry, Piyush Goyal has highlighted India’s strong macroeconomic fundamentals and growing attractiveness as a long-term investment destination during his engagement with senior leaders of leading Japanese financial and investment institutions in Tokyo. He said that India recorded 7.7 per cent growth last year despite global uncertainties and is working towards becoming a $30 trillion economy by 2047. 

He also underlined the strength of India’s banking sector, robust capital adequacy, low levels of non-performing assets, expanding middle class and rising disposable incomes as key drivers of sustained economic growth. The Minister highlighted significant opportunities for Japanese investors in semiconductors, artificial intelligence, data centres, renewable energy, green hydrogen, advanced manufacturing and digital infrastructure. He noted that India’s expanding renewable energy capacity and national power grid provide a strong foundation for the growth of energy-intensive digital industries, while the India Semiconductor Mission is creating new opportunities across manufacturing and technology.

Further, highlighting the strategic and comprehensive nature of India-Japan relations, Goyal said India regards Japan as a trusted partner in its journey towards becoming a global manufacturing, technology and investment hub. He emphasized India’s commitment to intellectual property protection, availability of high-quality talent, policy reforms and creating an increasingly conducive business environment.


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