New Delhi, Oct 16 (NationPress) Commerce and Industry Minister Piyush Goyal on Thursday emphasized India’s robust economic growth and the strengthening of bilateral relations with Brazil, asserting that the country's GDP growth trajectory is set to continue for a minimum of the next two decades.

During the India-Brazil Business Dialogue held here, Goyal expressed appreciation to Brazil's Vice President, Geraldo Alckmin, and Defence Minister Jose Mucio Monteiro Filho for their engagement, describing their presence as a testament to the commitment of both nations to enhance their strategic and economic collaborations.

Referencing Prime Minister Narendra Modi, Goyal articulated that India-Brazil relations should be "as vibrant as a carnival and as spirited as football."

He also acknowledged Brazil's incorporation of yoga and Ayurveda into its healthcare framework, suggesting that these traditional practices could further bolster cultural and health cooperation between the two countries.

The Minister highlighted that India’s GDP surged by 7.8 percent in the first quarter, positioning it as the fastest-growing major economy globally over the last four years. He expressed optimism that this growth momentum would persist for at least the next two decades.

With $700 billion in foreign currency reserves, India ranks among the top five nations worldwide in terms of forex strength.

Goyal underscored that these solid macroeconomic fundamentals lay the groundwork for the country to pursue ambitious growth objectives and expedite its developmental journey.

Referencing a recent statement from the IMF Chief commending India's courageous reforms, Goyal noted that the IMF has revised India’s growth forecast for 2025 upward from 6.4 percent to 6.6 percent.

He pointed out that in the past 12 years, 250 million Indians have been lifted out of poverty, resulting in a resilient and aspirational middle class that now propels the nation’s consumption and growth narrative.

The Minister asserted that India’s investments in welfare and infrastructure are synergistically working to foster a more inclusive and sustainable economy—ensuring that every citizen has access to food, housing, education, healthcare, electricity, digital connectivity, and clean water.

He reiterated the government’s dedication to structural reforms, enhancing the ease of doing business, and minimizing compliance burdens. He stated that these initiatives have bolstered investor confidence and positioned India to potentially become the world’s third-largest economy in the near future.