India to stay fastest-growing major economy for decades: Union Minister of Commerce & Industry, Mr. Piyush Goyal expresses confidence in India’s growth
- IBEF
- November 21, 2025
India has retained its position as the world’s fastest-growing major economy despite global economic volatility, geopolitical tensions, and pressure on multilateral systems, with growth expected to remain near 7% in the current fiscal. Speaking to business leaders in Tel Aviv, Union Minister of Commerce & Industry, Mr. Piyush Goyal, said India recorded 7.8% growth in Q1 FY26 and that Q2 figures are likely to exceed 7%, underscoring sustained momentum well above projections by the International Monetary Fund (IMF) and other global agencies. He added that S&P Global Ratings upgraded India’s sovereign credit rating in August after a gap of 18 years, reflecting stronger macroeconomic fundamentals, resilience, and controlled inflation. However, international agencies continue to undervalue India’s long-term growth potential.
In a parallel development, India and Israel agreed to initiate negotiations for a Free Trade Agreement (FTA), formalised through the signing of terms of reference. The talks will focus on phased market access, addressing non-tariff barriers, expanding investment opportunities for Israeli companies, job creation, and simplifying customs procedures. The agreement is expected to strengthen bilateral trade and act as a significant multiplier for economic cooperation, building on complementary strengths and long-standing trust between the two nations. Earlier attempts at an agreement in 2010 and 2011 did not materialise, making this renewed initiative a critical step towards deeper commercial integration and enhanced trade flows.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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