New Delhi [India], October 18: Union Commerce and Industry Minister Piyush Goyal, on Friday, highlighted India’s remarkable transformation over the past decade and shared the nation’s ambitious plans to become a developed country by 2047. Speaking at the SHRM (Society for Human Resource Management) conference, Goyal called on youth and corporate leaders to actively contribute to India’s bright future.
India’s Growth: From Fragile Five to Global Power
Reflecting on India’s journey, Goyal emphasized that while India celebrated 75 years of independence, the next 25 years will define the country’s transformation as it works towards becoming a “Viksit Bharat” (developed nation) by 2047. He explained that this period, known as the “Amrit Kaal,” will shape the lives of over 1.4 billion Indians.
A decade ago, India was considered one of the “fragile five” economies, facing slow growth and high inflation. Today, the country has turned that narrative around, becoming the world’s fifth-largest economy, with aspirations of moving to third place soon. Goyal credited this change to the collective effort of the people, highlighting that India is now seen as a model of growth and resilience on the global stage.
Technological Advancements: India’s 5G Revolution
One of the key highlights was India’s technological leap, particularly in the telecom sector. Goyal pointed out that India, which once struggled with 2G connectivity, is now leading the world with the fastest rollout of 5G, covering 125 cities. He emphasized that India’s transformation is now seen through the lens of technological leadership, with the country regarded as a trusted global partner.
Sustainability and Renewable Energy: India’s Green Future
Another critical area of progress is India’s shift toward sustainability. Goyal proudly shared that India had met its 2030 renewable energy target eight years ahead of schedule. He mentioned India’s push toward electric mobility and the replacement of fossil fuels with clean energy as a key step towards ensuring a better quality of life not just for India, but for the world at large.
India’s Vision for 2047: A $30-35 Trillion Economy
Goyal also outlined India’s economic vision for 2047, where he projected the country could become a $30 to $35 trillion economy. He highlighted that India’s demographic advantage, with a large and youthful population, combined with strong macroeconomic fundamentals, puts the country in an ideal position to achieve this goal.
He also called for greater collaboration between corporate leaders, entrepreneurs, and the government to align efforts with Prime Minister Narendra Modi’s vision. The minister underscored that India’s next phase of growth will require a joint effort from all sectors of society.
A Future Powered by Innovation and Collaboration
In closing, Goyal urged attendees to focus on innovation and collaboration to build on India’s transformation. He pointed out that the next 25 years are pivotal to India’s goal of becoming a developed nation, where technology, sustainable growth, and strong leadership will play a crucial role.
Goyal’s speech at the SHRM conference resonated with a sense of optimism, as he invited all stakeholders to be part of this ambitious journey toward a prosperous future for India.