IFBA 2022: It's a 30/30 journey, India enjoying fruits of demographic dividend, says Piyush Goyal

Union minister Piyush Goyal addresses the gathering at the Indian Family Business Awards 2022 in New Delhi on August 19

Speaking at the second edition of Moneycontrol's Indian Family Business Award 2022 on August 19, Union Minister for Commerce and Industry Piyush Goyal said that it is a 30/30 journey for India.

“India today is enjoying fruits of our demographic dividend with an average population under 30 years age. For the next 30 years we will continue to be a large young population of people below 30,” the minister said.

The commerce minister also said that the economy is in good shape with $600 billion in foreign reserves.

“We are facing small hiccups in inflation. However, we have faced the lowest inflation in this 9-year period,” he added.

The minister also said that India will become a $30-35 trillion economy by 2047. “This is India's time in sun -- to grow, invest and expand,” he said.

“In the years we will collectively make India owners pride, neighbours envy. India will create value for shareholders but also focus on sustainable and inclusive growth,” he added.

“Show me any other country where the , will grow faster than India?” he asked.

The most important program of this government isn't the high export growth or large amounts of FDI, but giving access to toilets to everyone in the country is the govt's biggest achievement, he said.

The Union minister expressed that India story is completely different now from what the current government had inherited, which was large amounts of oil bond debt, high inflation and interest rates, low growth and faltering exports. “All our energies were focused on strengthening the India story."