India has emerged as the world’s most trusted investment destination, Union Minister of Commerce and Industry Piyush Goyal said while delivering the keynote address virtually at the Citi India Conference 2026 in Mumbai. Addressing global investors and business leaders, the Minister highlighted India’s strong economic fundamentals, growing manufacturing ecosystem, expanding trade partnerships and investor-friendly reforms that are positioning the country as a preferred destination for global capital.
Goyal stated that India is currently recognized as the world’s fastest-growing major economy and expressed confidence that the nation will continue its growth trajectory for decades to come. He noted that India has consistently transformed global challenges into opportunities by adapting policies and business strategies to changing geopolitical and economic conditions.
The Minister said his recent interactions with investors and business leaders in Canada and the United States reflected strong confidence in India’s economic future. Referring to his visit to Canada with the largest-ever Indian business delegation, he highlighted positive discussions around a proposed India-Canada Free Trade Agreement and significant interest from pension funds, insurance companies and institutional investors.
He further shared that meetings with major investment firms and nearly 50 companies in New York reinforced India’s position as a credible global manufacturing hub and a safe investment destination. According to Goyal, investors view India as a trusted partner due to its democratic framework, rule of law, stable leadership, technological capabilities and a vast consumer market of 1.4 billion people.
Emphasizing the growing interest of long-term global capital in India, the Minister remarked that investors are no longer asking whether they should invest in India but rather how quickly they can become part of the country’s growth story. He cited examples such as Hyundai and JCB, which entered India years ago and have since built successful manufacturing operations serving both domestic and international markets.
Highlighting India’s trade expansion strategy, Goyal said the country has signed nine Free Trade Agreements (FTAs) in the last three-and-a-half years, covering 38 developed economies. These agreements are expected to boost exports, improve market access, encourage talent mobility and attract greater foreign investment.
The Minister also informed participants that the Oman Free Trade Agreement came into effect on June 1, while two to three additional major trade agreements are expected to be operational within the next six months. Several more significant trade pacts are likely to be concluded over the coming year.
Discussing ease of doing business reforms, Goyal highlighted the recently enacted Jan Vishwas Act 2.0, which decriminalized nearly 1,000 offences across various central laws where there was no intent to defraud or threaten public safety. He said the reform demonstrates the Government’s trust-based governance approach and commitment to reducing compliance burdens.
The Minister also announced the Bhavya Scheme, a major initiative aimed at developing 100 industrial parks across India with an investment of nearly USD 3.5 billion. The parks will feature plug-and-play infrastructure, worker housing, utilities, environmental clearances and digital connectivity, creating a supportive environment for manufacturers and MSMEs.
On labour reforms, Goyal noted that the consolidation of 29 labour laws into four labour codes has simplified compliance and improved ease of implementation. He also highlighted India’s successful management of recent global energy challenges through diversified energy sourcing and prudent fiscal policies.
The Minister said India is investing nearly USD 130 billion in infrastructure development, including ports, highways, airports and rural connectivity. He added that the country plans to double its renewable energy capacity from 250 GW to 500 GW over the next five years while strengthening its semiconductor and advanced technology ecosystem.
Concluding his address, Goyal emphasized that India is evolving from an assembly-based economy into an innovation-driven manufacturing powerhouse. He invited global investors to bring long-term capital and participate in India’s journey towards becoming a developed nation and a USD 30 trillion economy under the Viksit Bharat 2047 vision. He expressed confidence that India will remain the defining growth story of the 21st century, offering immense opportunities, profitability and sustainable growth for global investors.
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