India has emerged as one of the world’s most trusted investment destinations and is poised to remain the fastest-growing major economy for decades, Union Commerce and Industry Minister Piyush Goyal said while addressing the Citi India Conference 2026 on Thursday.
Delivering the keynote address virtually, Goyal highlighted India’s economic resilience, expanding manufacturing base, infrastructure development and growing network of trade agreements as key drivers of investor confidence. He said his recent interactions with investors and business leaders in Canada and the United States reflected strong global interest in India, with many viewing the country as a trusted partner and a credible alternative manufacturing hub.
Referring to discussions held during his visits to Toronto and New York, Goyal said long-term global capital is increasingly looking towards India due to its democratic framework, rule of law, technological capabilities and large consumer market. He noted that the proposed India-Canada Free Trade Agreement received a positive response from investors, while meetings with leading global investment firms reinforced confidence in India’s growth prospects.
The minister said India has signed nine free trade agreements over the past three-and-a-half years, covering 38 developed economies, helping expand market access, facilitate investments and promote talent mobility. He added that the Free Trade Agreement with Oman came into effect on June 1 and indicated that several more trade pacts are expected to become operational in the coming months.
Highlighting reforms aimed at improving the ease of doing business, Goyal pointed to the recently enacted Jan Vishwas Act 2.0, which decriminalises nearly 1,000 offences across various central laws where there is no intent to defraud or threaten public safety. He said the legislation reflects the government’s trust-based approach towards businesses while reducing compliance burdens.
The minister also announced that the government will develop 100 industrial parks under the Bhavya Scheme with an outlay of nearly USD 3.5 billion. The parks will feature plug-and-play infrastructure, including ready-to-use factory spaces, worker housing, utilities, environmental clearances and digital connectivity to support manufacturers and MSMEs.
On infrastructure, Goyal said India is investing nearly USD 130 billion in highways, ports, airports and rural connectivity projects. He noted that port and airport capacities have doubled over the past decade, while major initiatives such as the Jal Jeevan Mission and expansion of renewable energy capacity continue to strengthen the country’s development trajectory.
The minister also underlined India’s push into emerging technologies, including semiconductors and artificial intelligence. He said Tata and ASML are setting up India’s first semiconductor capital equipment manufacturing facility, while large-scale skilling initiatives are being undertaken to prepare the workforce for future technologies.
Further, Goyal said India is moving beyond assembly-based manufacturing towards innovation-led growth, backed by indigenous technological capabilities, a rapidly expanding digital ecosystem and strong intellectual property protections. He expressed confidence that India would emerge as one of the defining growth stories of the 21st century, offering global investors immense opportunities for long-term growth and profitability.
