Union Minister Piyush Goyal announced that India is aiming to become a $32 trillion economy by 2047, powered by deep-tech innovation, youth-led entrepreneurship, and long-term public investment. He shared this vision at the Sangam 2025 Global Innovation Summit held at IIT Madras.

Key Points:

1. Speaking at Sangam 2025, Goyal stated India’s goal of expanding from a $4 trillion economy today to $32 trillion by its 100th year of independence in 2047.
2. A Rs.1 lakh crore, 50-year, interest-free loan has been allocated to boost scientific research and deep-tech development through the Department of Science and Technology.
3. India allocated ?10,000 crore last year, and another ?10,000 crore in Budget 2025, to build a robust domestic ecosystem for deep-tech and emerging technologies.
4. Goyal projected India would become the world’s third-largest economy by 2027–28, up from its current fifth position.
5. He highlighted India’s cost-efficiency in innovation, noting that research and development costs are nearly one-sixth to one-seventh compared to the West.