A Vision for the Future
India's economy, currently valued at $3.5 trillion, is poised for significant growth in the coming years. Union Commerce and Industry Minister Piyush Goyal, speaking at the Amazing Goa Global Business Summit 2024, projected an expansion to $35 trillion over the next 25 years. He emphasized that the 21st century belongs to India, predicting it will become the third-largest economy globally within three years.
Goyal highlighted Prime Minister Narendra Modi's vision for India's economic progress. He noted the country's transformation from being part of the "fragile five" economies in 2014 to becoming the fifth-largest GDP globally. This growth, he attributed to strong economic fundamentals, including low inflation, robust foreign exchange reserves, and a welcoming environment for investors.
The minister also pointed to the government's efforts to create an investment-friendly atmosphere by focusing on ease of doing business, reducing compliances, and decriminalizing laws detrimental to businesses. "India today is seen as a trusted and reliable partner in a global supply chain," he said.
Goa Chief Minister Pramod Sawant expressed the state's commitment to contributing to PM Modi's vision. "Today, we are here to unveil the new Goa, which is ready to embark on the future as a vibrant investment destination. We are moving beyond tourism to make the state a thriving hub of emerging industries that will highlight Goa on a global map," Sawant remarked.
Former Union minister Suresh Prabhu praised India's stability under PM Modi's leadership, citing it as one of the least risky countries in terms of risk analysis. The three-day Amazing Goa Global Business Summit 2024 will feature various knowledge sessions, business-to-business meetings, and other events aimed at attracting investment to the coastal state.