Union Commerce and Industry Minister Mr. Piyush Goyal stated that India and the United States are natural partners bound by growing trust, shared interests and strong people-to-people ties. Addressing the Indo-American Chamber of Commerce in New Delhi, he said the bilateral relationship has continued to strengthen across trade, investment, technology and strategic cooperation. The Minister emphasised that both countries share democratic values and a common vision for economic growth, innovation and global stability. He noted that India’s economic transformation, supported by reforms, digitalisation and infrastructure development, has enhanced its attractiveness as a global investment destination. Highlighting India’s growing economic stature, he said the country has moved from being part of the “Fragile Five” economies to becoming one of the world’s top five economies and is on track to become the third-largest economy in the coming years. He added that strong engagement between businesses, investors and institutions in both countries continues to create new opportunities for economic collaboration.
Further highlighted the role of Global Capability Centres (GCCs), innovation-driven industries and emerging technologies in strengthening India-US economic relations. He noted that India is benefiting from robust macroeconomic fundamentals, including a strong banking system, controlled inflation, fiscal discipline and rising consumer confidence. The Minister said the government remains committed to improving ease of doing business, enhancing competitiveness and creating a conducive environment for investment and entrepreneurship. He also underscored the importance of collaboration in areas such as artificial intelligence, quantum computing, advanced manufacturing, design and digital technologies. Projecting a long-term growth trajectory, he said India has the potential to become a Rs. 2,889.30-3,370.85 lakh crore (US$ 30-35 trillion) economy by 2047. He added that deeper economic and technological cooperation between India and the United States would support innovation, job creation and sustainable growth while contributing to greater prosperity in both countries.
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