Rama Krishna Sangem
Union Minister of Commerce and Industry Piyush Goyal is of the view that India is still the destination for global investors. His observation comes amid fears of Indian rupee declining by about 8 per cent in 5-6 months, FPIs (Foreign Portfolio Investors) pulling our their money from our stock markets and inflation soaring to above 6 per cent here.
Goyal virtually delivered the keynote address at the Citi India Conference 2026 in Mumbai, highlighting India’s emergence as the world’s most trusted investment destination and outlining the Government’s ongoing efforts to strengthen manufacturing, ease of doing business, infrastructure, technology adoption and global trade engagement.
Addressing global investors and business leaders, Goyal said that India is recognized as the world’s fastest-growing economy and expressed confidence that the country will continue to maintain this position for over two decades into the future. He noted that India has consistently converted crises into opportunities by reorienting processes and business strategies to suit changing geopolitical and economic circumstances while continuing to remain an attractive destination for trade, business, manufacturing and investments.
The Minister said that his recent engagements with investors and business leaders in Canada and the United States demonstrated strong global confidence in India’s economic prospects. Referring to his visit to Canada with the largest business delegation ever to travel from India, he highlighted the positive response received for a proposed India-Canada Free Trade Agreement and the strong investor interest from pension funds, insurance companies and other institutional investors.
He further stated that discussions with leading investment firms and around 50 companies in New York reinforced the perception of India as the only credible alternative manufacturing hub, a trusted partner and a safe investment destination backed by democracy, rule of law, decisive leadership, technological capabilities and a vast consumer market of 1.4 billion people.
Long-term capital looking at India
Goyal observed that long-term global capital is increasingly looking towards India. Referring to interactions with leading investors from New York and Toronto, he said that every discussion reinforced confidence in India’s future growth trajectory. He remarked that the question for investors is not whether to invest in India, but how quickly they recognize and participate in the India growth story.
Highlighting examples of successful long-term investments in India, the Minister referred to Hyundai’s entry into India in 1999 with an investment of approximately USD 200 million. He noted that despite infrastructure limitations at the time, the company built substantial value over the years through manufacturing operations in India and generated significant returns through dividends, royalties and capital appreciation. He also cited JCB’s experience in India, stating that the company entered the country when infrastructure development was still at an early stage and today exports products manufactured in India to nearly 130 countries while serving growing domestic demand. He said these examples demonstrate India’s ability to support manufacturing at scale for both domestic and global markets.
38 FTAs in 3 years
The Minister highlighted India’s expanding trade engagement with the world and stated that India has signed nine Free Trade Agreements in the last three to three-and-a-half years, covering 38 developed economies. He noted that these agreements complement India’s growth story by expanding market access, facilitating trade, enabling movement of talent and attracting investments, including the establishment of Global Capability Centres in India.
Inviting global investors to participate in India’s growth journey, Shri Goyal emphasized that India is not merely a large and growing market but also a base for innovation, design and advanced manufacturing. He urged investors to bring patient and long-term capital to support India’s transition towards newer technologies and future industries.