NEW DELHI, INDIA — June 8, 2026
India GDP Growth 7.7% is the result of sustained policy interventions and structural reforms implemented over the past decade, Union Commerce and Industry Minister Piyush Goyal said on Monday, emphasizing that the country continues to retain its position as one of the world’s fastest-growing major economies.
Speaking at the launch of the BHAVYA portal, a new platform designed to accelerate the development of investment-ready industrial parks across the country, Goyal stated that India’s economic performance is the outcome of long-term planning rather than short-term factors.
“I do not believe many people expected the last financial year to conclude with 7.7 percent GDP growth. This achievement is not accidental. It reflects a decade of structural reforms and consistent policy action,” the minister said.
Government Launches Major Industrial Development Initiative
As part of its broader industrial expansion strategy, the government unveiled the BHAVYA portal to facilitate the development of 100 investment-ready industrial parks nationwide.
Earlier, on May 23, the Department for Promotion of Industry and Internal Trade (DPIIT) released detailed operational guidelines for implementing the Bharat Industrial Development Scheme (BHAVYA).
Under the initiative, the government plans to develop 100 industrial parks between FY 2026-27 and FY 2031-32 with a total financial outlay of approximately ₹33,660 crore.
The scheme is expected to strengthen manufacturing capabilities, attract domestic and foreign investment, and create employment opportunities across multiple regions.
First Phase to Include 50 Industrial Parks
The first phase of the program will involve a competitive challenge-based selection process under which up to 50 industrial parks will be approved.
According to the roadmap announced by the government:
- Up to 20 industrial parks will be selected from applications received by July 31.
- An additional 30 industrial parks will be chosen from proposals submitted during the following four months.
- Priority will be given to projects capable of attracting large-scale industrial investment and supporting economic growth.
Officials believe the initiative could significantly enhance India’s industrial infrastructure and improve its competitiveness in global supply chains.
Focus on Ease of Living and Ease of Doing Business
Goyal reiterated that the government’s central objective remains improving the quality of life for citizens while creating a more business-friendly environment.
He noted that efforts to enhance ease of living and ease of doing business have contributed to stronger economic activity across sectors.
“The government is working with dedication and sincerity to improve the lives of 1.4 billion Indians. Creating opportunities, simplifying procedures, and supporting enterprise remain key priorities,” he said.
The minister also highlighted social and economic progress achieved during the past decade, including the reduction of extreme poverty and the removal of numerous outdated regulations.
According to Goyal, more than 250 million people have moved out of extreme poverty, while several obsolete laws have been repealed to improve governance and efficiency.
Exports Continue to Expand Despite Global Challenges
Addressing concerns about global economic uncertainty, Goyal said India’s exports continued to grow during the previous year despite challenging international conditions.
He pointed to geopolitical tensions, ongoing conflicts in Ukraine and West Asia, and tariff-related disruptions in global trade as significant headwinds faced by economies worldwide.
Even amid those challenges, India managed to register export growth, reflecting the resilience of its manufacturing and services sectors, he said.
Record FDI and New Trade Agreements
The minister further noted that India attracted record levels of Foreign Direct Investment (FDI) over the past year despite heightened geopolitical uncertainty.
He also highlighted the government’s efforts to deepen economic engagement with international partners, revealing that five Free Trade Agreements (FTAs) had been finalized within a span of six months.
According to Goyal, global investors increasingly view India as a dependable economic partner and a preferred destination for long-term investment.
India Positioned for Long-Term Growth
The minister stressed that India’s appeal extends beyond its large consumer market. He cited the country’s youthful workforce, expanding talent pool, and entrepreneurial energy as major advantages that continue to attract international businesses.
“India is not only a vast market but also a nation with extraordinary talent and a dynamic population. This presents a historic opportunity for investors and businesses alike,” he said.
As the government marks 12 years in office, Goyal reaffirmed its commitment to sustaining economic momentum, preparing the country for future challenges, and accelerating India’s growth trajectory in the years ahead.
