India's ambition to become a $30 trillion economy by 2047 took centre stage at the NDTV Profit Conclave 2026 on Saturday, as top policymakers and industry leaders gathered to decode the country's strategic and economic roadmap. Under the theme "India: The Real Deal," the event saw Finance Minister Nirmala Sitharaman and Commerce Minister Piyush Goyal issue a robust defense of India's economic sovereignty, while outlining a pragmatic path forward in a volatile global landscape.
Trade Triumph: Zero Concessions on Agri
The highlight of the conclave was the government's firm stance on the newly negotiated India-US trade framework. Commerce Minister Piyush Goyal quelled anxieties regarding the agricultural sector, declaring that India has offered "zero concessions" on sensitive farm products in the deal.
Addressing concerns about American produce flooding the market, Mr. Goyal revealed a specific protection mechanism for domestic apple growers in Himachal Pradesh and Kashmir. "US apples will land at a minimum import price of Rs 75 per kg," he stated, ensuring that Indian farmers remain protected from predatory pricing.
Goyal also signaled a structural shift in India's service export strategy, playing down the country's historical reliance on H-1B visas. "Those days are gone," he remarked, suggesting that India's tech prowess now commands a global footprint that transcends the need for physical migration of talent. He reiterated that the nation is firmly on track to hit the $30 trillion economic milestone by 2047.
FM Sitharaman: Realism and Removing Barriers
Finance Minister Nirmala Sitharaman anchored the evening sessions with a message of "grounded realism." While celebrating recent trade successes, she cautioned that "every trade deal matters" in a world grappling with uncertainty. She pushed back against the narrative that capital is fleeing India, specifically countering claims that money is only flowing out for AI investments.
In a direct overture to India Inc., the Finance Minister promised to act as a facilitator rather than a regulator. "If the government is a hindrance, tell us. I will remove the barriers," she assured business leaders, urging the private sector to match the government's capital expenditure push.
On the geopolitical front, the FM addressed the absence of budget allocation for the Chabahar Port. She acknowledged the port's strategic importance but cited the complexities of US sanctions, stating that the government is navigating a "middle ground" rather than exiting the project. She also weighed in on the political buzz in Tamil Nadu, noting that actor Vijay's entry into politics "will have an impact" on the upcoming polls, though she expressed confidence in the NDA's prospects.
ALSO READ: Every Trade Deal Matters, Says FM Sitharaman; Urges Realism Amid Global Uncertainty
Strategic Autonomy: Energy and Defense
The conclave also highlighted India's unyielding stance on energy security. Sanjeev Sanyal, Member of the Prime Minister's Economic Advisory Council (PM-EAC), stated clearly that India's "main interest is to import cheaper crude" to fuel its growth, regardless of the source. On trade disputes, he struck a defiant tone: "We never escalate, but we will respond if pushed," he said.
Complementing this, Chief Economic Adviser V. Anantha Nageswaran downplayed the long-term impact of reducing Russian oil purchases, suggesting it "may not remain a big deal" as markets adjust.
In the defense sector, Secretary Rajesh Kumar Singh assured that the indigenous LCA Tejas fighter jet program "won't become dated." He explained that the platform is designed for continuous upgrades, ensuring it remains a backbone of the Indian Air Force for decades to come.
ALSO READ: CEA Says Reducing Russian Oil Purchases May Not Remain A Big Deal For India
Market Watch: IDBI Sale and the "Lottery" Mindset
The event provided critical updates for investors. DIPAM Secretary Dr. Arunish Chawla confirmed that the strategic sale of IDBI Bank has reached the "final stage," with valuation and approvals currently in process.
Meanwhile, market veterans offered a word of caution amidst the bullish sentiment. Devina Mehra, Chairperson of First Global, warned retail investors against treating the IPO market like a "lottery game," advising them to look beyond listing gains to fundamental value. However, the broader sentiment remained positive, with experts predicting that Foreign Institutional Investors (FIIs) are poised to return to Indian markets following the clarity provided by the India-US trade deal.
ALSO READ: 'People Get In Thinking It's A Lottery Game' — Devina Mehra On IPOs
The Future of Work
In a forward-looking session, CEA Nageswaran addressed the disruption caused by Artificial Intelligence. He urged a pivot toward "non-cognitive roles"-such as those in caregiving, creative arts, and manual skills-which remain less vulnerable to AI automation compared to coding and data processing jobs.
The NDTV Profit Conclave 2026 concluded with a consensus: while global headwinds persist, India's blend of protective trade policies, strategic autonomy in energy, and aggressive economic targets positions it as "The Real Deal" for the decade ahead.
ALSO READ: CEA Nageswaran Highlights Need For Non-Cognitive Roles In The Age Of AI
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
