Business EconomyPosted at: Feb 18 2026 6:29PM


India to add USD 26 trn to global economy by 2047: Piyush Goyal

New Delhi, Feb 18 (UNI) India is set to contribute an unprecedented USD 26 trillion to the global economy between now and 2047, Commerce and Industry Minister Piyush Goyal said on Wednesday, describing the scale of expansion as “unparalleled in history” and unlikely to be replicated anywhere else in the world.
Speaking at the second day of the Global Economic Cooperation (GEC) 2026 conference in Mumbai, Goyal outlined India’s evolving economic diplomacy strategy that positioned the country as a stable and trusted partner in an increasingly volatile global order.
Addressing senior ministerial and business delegations from major global economies, including France, UK, UAE, US, Australia, Seychelles, Sri Lanka and Singapore, Goyal said the era of economic isolation is over and India is actively building alliances and deepening trade relationships from a position of strength.
“Between now and 2047, India is expected to add approximately USD 26 trillion to its economy a scale of growth opportunity that is unparalleled in history and unlikely to be replicated anywhere else in the world. The era of economic isolation is over. This is why we are building alliances, deepening friendships, and concluding trade agreements from a position of strength — nine agreements in four years, with more to come,” he said.
He emphasised that India’s national interest remains central to all negotiations, adding that the government is focused on securing opportunities for farmers, entrepreneurs, MSMEs, women and industries, while safeguarding sensitive sectors.
From being counted among the “Fragile Five” economies a decade ago, India has now emerged as the world’s fourth-largest economy. Goyal said the country is on track to become the third-largest economy by 2027–28 and aims to reach a USD30–35 trillion developed economy by 2047.
“A free trade agreement, for us, is an invitation to partner in India’s future… The world wants to be part of this story. And India, open, trusted and growing, is ready to welcome every partner who comes to the table with sincerity,” he said.
Highlighting India’s expanding trade footprint, Goyal said the country now has agreements with 38 developed nations across 16 Free Trade Agreements (FTAs) and 6 Preferential Trade Agreements (PTAs). Nine agreements have been concluded since 2022.
“These agreements were negotiated from a position of strength. Trust enables us to protect our defensive interests and advance our offensive interests simultaneously,” he said, noting that India has safeguarded farmers, fishermen, MSMEs and domestic jobs while securing greater market access in textiles, footwear and leather, expanding pharmaceutical exports, boosting farm and marine product exports, and attracting technology and investment.
At GEC 2026, leaders from governments, multilateral institutions and global corporations are deliberating on financial resilience, infrastructure capital, trade corridors, competitiveness and supply chain diversification.
Dedicated sessions are also examining artificial intelligence, technology transitions, sustainability, ESG priorities and women’s leadership in driving inclusive growth. UNI SAS KK
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