Union Commerce and Industry Minister Piyush Goyal on Wednesday said India has transformed from being a participant in global technology to becoming one of its key architects. Speaking on October 8 at the 6th Global Fintech Fest 2025 in Mumbai, Goyal said, “India leads global initiatives with its digital public infrastructure, indigenous 4G and 5G technology, and a robust ecosystem that delivers connectivity even on highways where some advanced economies still struggle.”

Highlighting the government’s role in this transformation, Goyal said, “The decisive leadership that Prime Minister Narendra Modi brings has guided India’s adoption of modern technologies, shaping our path as a trusted partner for global engagement.”

He emphasised that technology has become a major driver of inclusive growth, helping deliver services to the last man at the bottom of the pyramid. Goyal added that having over a billion internet users was no mean achievement, made possible through strong collaboration between industry and government.

Moreover, Goyal reflected on Prime Minister Modi’s 24 years of leadership, saying his unblemished record of public service has inspired 1.4 billion Indians to contribute to the world’s fastest-growing economy. “No power on earth can stop India from becoming a developed and prosperous nation by 2047,” he said, underlining that this goal rests on the country’s digital and trade advancements.

The minister also spoke about India’s resilience during the COVID-19 pandemic, noting that while many nations struggled to meet commitments, “India fulfilled every international commitment—whether in goods or services—thanks to the dedication of our technology, R&D, and export sectors.” Goyal said this reliability has made India synonymous with “trust, quality and timely delivery,” values that global partners now associate with the country.

“Trust is the only currency in the world of finance that never depreciates,” Goyal remarked, adding that India’s steady growth and structural reforms have made it the world’s fourth-largest economy at $4 trillion. “We are well on our way to becoming a $35 trillion economy by 2047,” he said confidently.

Goyal credited India’s fintech and digital sectors for driving this momentum, saying, “The fintech sector, powered by trust and technology, is leading India’s journey into the future.” He concluded by reaffirming that the government remains “deeply committed to expanding international trade and strengthening the domestic economy” through infrastructure development and consumption-led growth.