“We’ve doubled our economy in just eight years and we’ll do it again, every eight years till 2047.”
Commerce & Industry Minister Piyush Goyal’s declaration wasn’t just an economic forecast; it was a goal. Speaking exclusively to Hook at the to Fortune India Best CEOs Awards, he described a bold plan for a developed India, driven by scale, independence, and new tech.
The growth engine that won’t stop
Since 2014, India’s economy has been built through hard work, not quick fixes. Goyal mentioned that the country's GDP has already doubled. With consistent plans, more infrastructure, and a manufacturing expansion, the aim is to hit $30–35 trillion by 2047. We're going to keep doubling every eight years, he said confidently, showing the government's long-term plan for lasting growth.
Made in India, for everyone
A key to that idea is making things, not just products, but chances. Our main focus is to make as much as we can in India, with the hard work of our people, Goyal said. He noted how the Make in India plan has become a bigger push for creating value here. But the plan isn't to isolate India.
Through free trade deals with rich countries, India wants to improve its quality and service to meet global standards. We want to compete with developed economies from a strong position, Goyal said, saying that being globally competitive and helping local people must go together.
The AI advantage
Adding a modern touch to the economic story, Goyal pointed to artificial intelligence as something that will help India grow even faster. AI is here to stay, but people will always be smarter, he said, mixing hope with being realistic. With the second-most ChatGPT users globally and a workforce quickly gaining skills, India is becoming a center for using AI. Here, tech boosts human creativity instead of replacing it.
Goyal said that India becoming a developed country won't depend on chance or speed. It'll depend on sticking with it, working together, and Indian minds building the future here in India.
