Union Minister Piyush Goyal has said that due to the current global situation and war, India’s economy may be affected for a short time, but the country will soon overcome these challenges. He said this during CNBC-TV18 India Business Leaders Awards 2026. Goyal said that India is a country with a strong and stable economy, whose basic economic foundations are quite strong. He said that due to the war going on in the world, there may be a decrease in economic activities for some time, but it will be compensated in the coming months. According to him, India will remain the fastest growing major economy in the world for at least the next two decades.
Goyal also talked about the global energy crisis and said that India has sufficient reserves of crude oil and fuel. He said that there is no problem in the supply of petrol, diesel and aviation fuel. He also said that if there is a delay in LPG supply, then the production of kerosene has also been increased. Apart from this, India is also importing LPG and LNG from different countries. For energy, India is exploring supply options from many countries, which include countries like Canada, America and Russia.
What did you say about the money?
Goyal said that in times of war or global tension, investors often turn to safer options, hence the demand for gold and silver increases. For this reason, there has been a rise in their imports in recent times. He said that the Indian rupee, which is currently under pressure, will gradually strengthen, especially when global tensions subside.
Government’s preparation for exporters
The Union Minister said that the government is in daily touch with export related organizations and a 24-hour helpline has also been started to solve the problems. He said that the government has also prepared such schemes so that the exporting companies can get insurance protection. If goods are damaged or delivery is delayed due to problems in sea routes, they will be provided assistance. At present, shipping is being affected due to increased tension especially around the Strait of Hormuz and Red Sea.
