India's Transformational Economic Journey Under PM Modi: Piyush Goyal

Commerce Minister Piyush Goyal criticized past perceptions of India's limited economic growth potential, emphasizing India's progress under Prime Minister Modi's leadership. Speaking at the World Hindu Economic Forum 2025, Goyal highlighted India's path to becoming the world's third-largest economy and its transformation in economic policy, digital innovation, and international standing.

In a strong address at the World Hindu Economic Forum 2025, Commerce Minister Piyush Goyal criticized prior perceptions that capped India's growth potential at 4-4.5 percent. He lamented past terms like the 'Hindu rate of growth,' which predicted sluggish economic progress, and targeted the Congress and UPA governments for perpetuating this narrative.

Goyal underscored India's accelerated growth under Prime Minister Narendra Modi, projecting that India will become the world's third-largest economy in the next 2 to 3 years. This directly contradicts former Finance Minister P Chidambaram's forecasts suggesting a 30-year timeframe for such economic ascension, which Goyal refuted with confidence.

The minister highlighted transformative measures, including policy reforms and digital advancements, as pivotal in enhancing India’s global stature and economic resilience. He asserted that recent trade agreements reflect India's growing self-confidence and strategic positioning on the international stage.