MUMBAI – In a bold declaration at the Global Economic Co-operation (GEC) 2026 conference, Union Commerce and Industry Minister Piyush Goyal unveiled India’s ambitious economic roadmap. Speaking on the second day of the event, Goyal asserted that India will inject a staggering $26 trillion into the global economy by 2047, marking an unprecedented growth trajectory unmatched anywhere else in the world.
The conference, a landmark gathering in Mumbai, brought together senior ministers and business leaders from powerhouses like France, the UK, UAE, US, Australia, Seychelles, Sri Lanka, and Singapore. Amid a rapidly shifting multipolar world and evolving trade landscapes, GEC 2026 aims to forge robust, inclusive economic alliances equipped for future challenges.
Goyal emphasized India’s strategic pivot towards economic diplomacy. ‘From now until 2047, India will add $26 trillion to its economy. This is a historic growth story,’ he said. Highlighting recent achievements, he noted nine trade agreements signed in just four years, with national interests at the forefront—safeguarding farmers, entrepreneurs, MSMEs, women, and sensitive sectors while opening new opportunities.
Free Trade Agreements (FTAs), Goyal explained, are invitations to partners to join India’s ascent from the world’s fourth-largest economy to the third by 2027-28, culminating in a $30-35 trillion developed economy by 2047. ‘India stands ready to welcome serious partners with open arms and unwavering trust,’ he added.
Organized by the Future Economic Co-operation Council (FECC) in partnership with India’s Foreign Ministry and Maharashtra government, the forum is led by Vijay Chauthaiwale and Priyam Gandhi-Modi. An advisory council featuring industry titans like Anand Mahindra, Baba Kalyani, Cyril Shroff, and Adil Zainulbhai guides its direction.
India has secured 16 FTAs and 6 PTAs with 38 developed nations, a disciplined pursuit of national goals. These deals protect defensive interests like agriculture and fisheries while advancing offensive ones in textiles, pharmaceuticals, and technology exports.
External Affairs Minister Dr. S. Jaishankar underscored global uncertainties driving de-risking and diversification across supply chains. India’s response: bolstering capacities, tackling challenges, and deepening ties. Maharashtra CM Devendra Fadnavis hailed GEC as a bulwark against global trade upheavals, with sectors like semiconductors and AI now tied to national security.
Baba Kalyani positioned India as a stability provider in the new world order, leveraging deals like IMEC to become a connector economy. Discussions at GEC span financial resilience, infrastructure, trade corridors, AI, sustainability, and women’s leadership in inclusive growth.
As economic power disperses in a multipolar era, India leverages GEC 2026 to cement its role as a trusted partner, investment hub, and bridge between developed and emerging economies.