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Emphasizing India as a land of opportunities and a potential market for the business community in the US, Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal said that India is on the path to become a powerhouse driving global growth by 2047.

The Minister further noted that conclusion of the Indo-Pacific Economic Framework (IPEF) IPEF is an important milestone for free and fair trade with like minded countries, who share a common objective to have rule based international order and a transparent economic system.  He added that politically stable and open economies in the Indo-pacific are coming together to expand economic activities amongst each other.

Besides, Goyal said that the transformational work happening in India has taken the country to the 5th spot among world economies. Assessing the impact of the foundational changes and structural transformation that has happened in the last few years, Goyal mentioned that CII estimates India in 2047 to be a $35-45 trillion economy, taking India into the league of developed nations.