Bern: Union Commerce and Industry Minister Piyush Goyal remarked on India's exceptional economic progress on Tuesday, noting that the country's economy has grown from $270 billion to $4 trillion in just three decades.
Addressing the Swissmem Industry Day in Switzerland, Goyal stated that India intends to be a USD 30-35 trillion economy by the time it celebrates 100 years of independence.
He claimed that it offers the greatest economic opportunity in the world.
I have a tale to tell of a nation that has expanded from a $270 billion economy in the last 30 years to a $4 trillion economy today. As we prepare to commemorate India's 100 years of freedom, the government hopes to increase the country's economy from $4 trillion to $3035 trillion, according to the minister.
That is the largest economic prospect ever... Our average age is only 28. 4 years. India will remain a young country for the next 30 years. This combination of talent, skill, and ambition for a better future propels India's current status as the world's fastest-growing major economy, he explained.
Goyal also highlighted the immense potential for Swiss enterprises in India, underlining the country's encouraging climate.
I believe a new era of collaboration, friendship, and togetherness between the four (European Free Trade Association) EFTA countries—Switzerland, Norway, Liechtenstein, and Iceland—and India is set to begin in October... TEPA is officially known as the Trade and Economic Partnership Agreement, but I see it as the Trust and Efficiency Partnership Agreement, he stated.
We are extremely inspired by your journey. We see it as a very natural partnership. We can contribute significantly to the future of Swissmem members and the business community. I allow Swiss businesses to decide. I have requested the president of Swissmem and the Swiss government to contact with their industry to determine where they would want us to explore establishing a Swiss enclave if they so choose, he said.
Goyal also spoke about India's strengthening ties with the United States.
He stated that Prime Minister Narendra Modi and President Trump met in February 2025, and the two countries have agreed to sign a bilateral trade deal that will be advantageous to both economies.
The minister began his Switzerland tour with a luncheon meeting with CEOs of selected Swiss firms and possible investors interested in exploring investment opportunities in India.
Goyal held in-depth discussions with Swiss industry leaders in Bern, Switzerland, yesterday, with the goal of strengthening economic collaboration and exploring new opportunities under the recently signed Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association.
