Piyush Goyal Says India Becoming Top Global Investment Hub

Goyal said India is moving beyond assembly-based manufacturing and increasingly focusing on innovation, research, design and indigenous technology development.

Union Commerce and Industry Minister Piyush Goyal has said India is increasingly being viewed as the world's most trusted investment destination, driven by strong economic growth, policy reforms and expanding global trade partnerships.

Delivering the keynote address virtually at the Citi India Conference 2026 in Mumbai, Goyal told global investors and business leaders that India remains the fastest-growing major economy and is well positioned to sustain that momentum for decades. He said the country has repeatedly turned global challenges into opportunities by adapting its business environment, strengthening manufacturing capabilities and expanding its engagement with international markets.

Drawing on his recent visits to Canada and the United States, Goyal said investors continue to express strong confidence in India's long-term growth story. Discussions with major pension funds, insurance companies and multinational firms reinforced India's reputation as a stable, democratic and reliable destination for investment. According to the Minister, many global businesses now view India as the most credible alternative manufacturing hub while also recognising its vast consumer market and technological strengths.

Trade agreements and reforms aimed at boosting competitiveness

Goyal highlighted India's growing network of international trade partnerships, noting that the country has signed nine Free Trade Agreements over the past few years, covering 38 developed economies. He announced that the Oman Free Trade Agreement came into force on 1 June and indicated that several additional agreements are expected to become operational within the coming months.

The Minister said these trade deals are expanding market access for Indian businesses, encouraging investment and supporting the growth of Global Capability Centres across the country. On the domestic front, he pointed to major reforms aimed at improving the ease of doing business. Among them is the second version of the Jan Vishwas Act, which decriminalised nearly 1,000 minor offences across various laws where there was no intent to defraud or endanger public safety.

He also highlighted the government's new Bhavya Scheme, which will establish 100 industrial parks across India with an investment of nearly $3.5 billion. The initiative is designed to provide ready-to-use industrial infrastructure, helping businesses set up operations more efficiently.

Technology, infrastructure and manufacturing drive future growth

Goyal said India is investing heavily in infrastructure, with nearly $130 billion being directed toward highways, ports, airports and rural connectivity projects. He noted that both port and airport capacities have doubled during the past decade. The country is also accelerating its transition toward renewable energy, with plans to increase capacity from 250 GW to 500 GW within the next five years.

Technology and advanced manufacturing remain central to India's development strategy. The Minister highlighted efforts to strengthen semiconductor production, artificial intelligence capabilities and workforce skills through large-scale training programmes. He welcomed the decision by Tata and Dutch semiconductor equipment manufacturer ASML to establish India's first semiconductor capital equipment manufacturing facility, describing it as a significant milestone for the country's technology ambitions.

Goyal said India is moving beyond assembly-based manufacturing and increasingly focusing on innovation, research, design and indigenous technology development. He added that strong intellectual property protections, secure data infrastructure and supportive policies are helping attract global technology investments.