‘What Makes World Envy India’: Piyush Goyal Lists Out Three Pillars Of Nation’s Growth Story & Vision For Viksit Bharat

Republic Media Network hosted the fifth edition of the India Economic Summit on November 28, 2025, at its state-of-the-art headquarters in Noida — recognised as Asia’s largest news centre. The 2025 edition, themed “India’s Global Moment,” spotlighted the country’s expanding economic weight, the opportunities emerging across sectors, and the long-term ambition of transforming India into a $30–40 trillion economy by 2047.

Addressing the summit, Union Minister Piyush Goyal broke down what he described as the “three foundational pillars” behind the country’s economic transformation over the last 11-and-a-half years under Prime Minister Narendra Modi. He began with the government’s focus on public welfare, noting that nearly 250 million people had moved out of poverty in the past decade — a scale he said the world had never witnessed. Ensuring access to basic needs such as food, clothing, housing, healthcare, education, electricity, and clean water, he argued, had created a stronger and more aspirational young population capable of driving the next stage of growth.

Goyal highlighted how digital empowerment has become central to this shift, with India’s population of one billion internet users and its position as the world’s second-largest base of ChatGPT users. Combined with decisive governance, rule of law, and demographic strength, these factors, he said, had placed the country at “an inflection point” where its growth trajectory is set to rise seamlessly.

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He emphasised that this broader transformation also rests on three strategic pillars that are now powering India’s next phase of economic take-off: massive social welfare delivery, record infrastructure investment that is creating jobs and deepening nationwide connectivity, and a concerted push to boost consumer spending through income-tax cuts and lower GST on everyday essentials. “These three pillars help India look to the future with confidence,” he said, adding that this vision echoes the principles laid out by Chanakya more than 2,300 years ago in the Arthashastra: Vriddhi (growth), Palan (good governance and compliance) and Yogakshema (inclusive well-being).

The second pillar, he said, is large-scale investment in infrastructure — spanning roads, logistics, industrial capacity, and nationwide connectivity — which has generated millions of jobs and triggered a multiplier effect across the economy. From remote districts to major urban centres, these projects, he noted, are stitching the country together in ways that expand opportunity and spur industrialisation.

The final pillar, according to Goyal, is the government’s push to boost consumer spending through income-tax rationalisation for the middle class and broad reductions in GST rates on essential goods. These measures, he said, reinforce confidence, support demand, and sustain economic momentum.

Goyal underscored India’s sharp turnaround from being part of the “Fragile Five” to ranking among the world’s top five economies. With $700 billion in forex reserves, strong banks, low inflation, and the fastest GDP growth among large economies, he said India now represents “the macroeconomic fundamentals that are the envy of the world.” He projected that the country would become the third-largest economy in the next two to two-and-a-half years, eventually reaching a size of $30–35 trillion by 2047. He also pointed out the reversal in global perception — citing S&P’s earlier prediction that India would be the first BRIC economy to fail, compared to the agency’s recent upgrade of India’s rating.

The India Economic Summit 2025 is proudly presented by TVS Motor Company. This event is Co-Powered by Adani Group, and Nippon India Mutual Fund, whilst being held in association with Ravin Group, Bhutani Infra and ProstarM. The special partner for this summit is Engineers India Limited (EIL), and the state partner being Haryana Government.