Delhi: Union Commerce and Industries Minister Piyush Goyal on Thursday outlined India’s massive economic and industrial roadmap as the country accelerates towards its long-term goal of becoming a developed nation by 2047, highlighting the scale of energy needs, industrial expansion, and deepening trade ties with the United States.
Speaking about India’s growth trajectory, Goyal stressed that rapid development would require unprecedented levels of resources, infrastructure, and global cooperation. He underlined that sectors such as energy, steel manufacturing, aviation, and data infrastructure would be at the core of this transformation.
Explaining India’s assessment of future requirements from the United States, the minister said, “The fast-paced growth at which India is going ahead towards Viksit Bharat 2047, we will need large volumes of energy, data centre equipment, our steel capacity will double…When we estimated what we will need from the USA, we came to a figure of atleast USD 500 billion. We can see that as potential we can procure from US in next 5 years. Our aircraft orders are worth nearly USD 70-80 billion. The target of bilateral trade of USD 500 billion between India and US trade. If we have to acheve that, we need to do more exports and sourcing between US and India.”
Goyal’s remarks come at a time when India and the United States are working to expand economic cooperation across multiple sectors, including defence, clean energy, advanced manufacturing, and technology. The minister indicated that India’s growing demand for aircraft, energy equipment, and industrial raw materials presents a major opportunity for US companies.
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