India at forefront of providing growth engine to world, contributing 16 pc of Global growth: Goyal
Kochi: India is at the forefront of providing growth engine to world and contributing 16 per cent of world's overall growth, says Union Minister Commerce & Industry Piyush Goyal.
Speaking at the Global Investors Summit 2025 in Kochi on Friday, he emphasized that India's economic rise is a result of both central and state governments working together, fostering a spirit of competition and collaboration.
"It is only when the states grow, the country can grow. And today, 16 per cent of the world's growth comes out of India. We are at the forefront of providing the growth engine to the world," Goyal stated.
He highlighted that a successful economic strategy involves states cooperating with the central government while also competing with each other to attract investment and promote development.
The Union Minister expressed strong support for Invest Kerala, the state's initiative to attract investment. He reiterated the central government's commitment to working alongside Kerala and other states to boost economic growth, manufacturing, tourism, and infrastructure development.
Goyal also recalled how Prime Minister Narendra Modi's Vibrant Gujarat summit set the stage for large-scale investment summits in India.
He stated that originally an annual event, it later became bi-annual and served as a model for state-level investment promotion efforts. He credited such initiatives for strengthening cooperative federalism, where both state and central governments work as a team to drive economic progress.
Highlighting India's rapid economic advancement, Goyal pointed out that the country has moved from being the world's 11th largest economy to the 5th largest in the last decade.
"We are poised now to become an internationally relevant player in the world. We have moved from the 11th largest economy to the 5th largest economy in the last 10 years," he asserted.
With India continuing to attract global investments and expand its economic influence, Goyal expressed confidence that the country will play an even greater role in shaping the world's economic future.
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