Union Minister Piyush Goyal heralds India as the fastest-growing economy for 30 years, driven by robust EXIM and $500B EFTA FDI.
India is poised to remain the world’s fastest-growing large economy for the next three decades, Union Minister for Commerce & Industry Shri Piyush Goyal announced at the CII Annual Business Summit 2025. This remarkable projection is underpinned by aggressive strides in EXIM (Export-Import) relations and a landmark investment commitment from EFTA countries.
Shri Goyal emphasised India’s sustained 6-7% growth, with aspirations to reach 8%, even amidst global volatility. A key driver of this trajectory is India’s strengthening international trading relations. “We are back on track on the growth trajectory, working through international trading relations,” stated the minister.
Highlighting a significant boost to India’s EXIM landscape, Shri Goyal detailed the rapid progress on Free Trade Agreements (FTAs). These include agreements with the UAE, Australia, the UK, and the four EFTA countries (Iceland, Liechtenstein, Norway, and Switzerland). Crucially, bilateral trade agreement negotiations are also well underway with the USA and the European Union’s 27-nation bloc, with talks also launched with New Zealand.
In a groundbreaking development for India’s EXIM and investment ecosystem, the EFTA countries have committed a staggering $100 billion in Foreign Direct Investment (FDI) over the next 15 years. This initial commitment is anticipated to crystallise into a massive $500 billion investment ecosystem, with the potential to attract an additional $500 billion. Shri Goyal proudly noted that this marks the first FTA globally to incorporate such a forward-looking investment clause, excluding investments from the Norwegian Pension Fund.
The minister also underscored India’s strong macroeconomic fundamentals, including $690 billion in foreign exchange reserves and inflation below 4%. He stressed that “growth through trade, resilient supply chains and innovation” are integral to India’s progress.
Furthermore, Shri Goyal touched upon Prime Minister Narendra Modi’s vision for inclusive growth, ensuring dignity, healthcare, education, and employment for all, reinforcing that economic expansion through trade will be equitable. Initiatives for ease of doing business, including the reduction of 40,000 compliances and decriminalisation of laws, further bolster India’s appeal as a global trading and investment hub. The focus on technology adoption, including AI, and the availability of low-cost clean energy provide a compelling case for international businesses and data centres to invest in India.
Sources: PIB
