Union Minister Piyush Goyal Projects India's Economic Ascent at Noida Forum
Union Minister for Commerce and Industry Piyush Goyal delivered an optimistic address at the inaugural session of the three-day World Forum of Accountants (WOFA) held at the India Expo Centre and Mart in Greater Noida on Friday. The minister's speech centered on India's robust economic trajectory and its imminent rise on the global stage.
Confident Projection: Third-Largest Economy Within Two Years
Highlighting the country's strong macroeconomic fundamentals, Goyal proclaimed with confidence that India is poised to become the world's third-largest economy in the coming two years. This bold assertion aligns with recent economic forecasts. According to an October 2025 report by investment management firm Franklin Templeton, which cites projections from the International Monetary Fund and the Organisation for Economic Co-operation and Development, India is on track to overtake Germany and secure the third position by the end of this decade.
Accelerated Growth Under Decisive Leadership
Goyal recalled former finance minister P. Chidambaram's 2014 budget speech, in which he predicted that India would climb to the third spot in 30 years. The minister emphasized that decisive leadership under Prime Minister Narendra Modi has significantly accelerated this economic trajectory, compressing the timeline for achieving this milestone.
Resilient Trade Performance and Global Perception Shift
Despite turbulence in global trade, Goyal noted that India's exports of goods, merchandise, and services continue to grow in the current year. He added that India's perception has transformed on the global stage, with the country signing eight free trade agreements with developed nations over the last four years. These agreements facilitate trade with 37 countries across Europe, Australia, and the Middle East, many of which are actively seeking skilled professionals.
The "Mother of All Deals" and Global Demand for Indian Talent
Citing the recent India-EU free trade agreement, described as the "mother of all deals" by European Commission President Ursula von der Leyen, Goyal underscored the high global demand for India's youth talent, hard work, and ability to dream big. He also highlighted the crucial role of India's 5.2 lakh chartered accountants in supporting this economic growth and maintaining financial integrity.
The minister's address at the WOFA forum in Noida reinforced a narrative of economic optimism, positioning India as a rapidly ascending global economic power with strong fundamentals and strategic international partnerships.
