Union Commerce Minister Piyush Goyal has appealed to all to aim for a $47 trillion economy when India reaches the year 2047, an official release said on Saturday (29 April).

Goyal made the appeal while delivering the inaugural address at the 'India Calling Conference 2023' organised by the Indian Merchants Chamber in Mumbai.

During his address, he highlighted the contribution of companies from small countries, such as the Czech Republic and Poland, to the supply chain of big companies around the globe.

Goyal said that India has tried to formalise the economy and has met with great success.

The spirit of team, competitiveness, and positivity are necessary for success, and that kind of spirit can be seen in Mumbai, which is not only the financial capital but also the fun capital of India, he added.

The minister said that every single geography in the world has a lot of hope and expectation from India, and though it can be sometimes daunting, it shows the confidence of the world in country's future.

"India reflects the vision of the world as one Economy. While Commerce Industry teams are negotiating Free Trade Agreements with a deep focus on protecting India's interest, India believes that true prosperity happens when the whole world prospers. India believes in Vaccine Maitri under which it delivered 278 million doses to poorer countries mostly free because India feels safe when the world is safe," Goyal said, according to a Commerce Ministry release.