Piyush Goyal: How India Turned Every Crisis into Opportunity And Emerged Stronger

Speaking at the India–Israel Business Summit, Piyush Goyal highlighted India’s unique ability to convert every crisis into an opportunity for growth. He recalled how the country withstood sanctions after the Pokhran nuclear tests, only to grow even faster in the years that followed. Goyal also pointed to the Y2K scare, which gave India’s IT industry a global breakthrough, and the 2008 financial crisis, after which India posted some of its strongest growth numbers. He emphasised how, during the COVID-19 shock—when the world doubted India’s capacity to cope—India not only stabilised swiftly but supplied vaccines and medicines to more than 150 countries. With 2.5 billion vaccines administered domestically and the economy emerging as the fastest-growing large market post-pandemic, Goyal said India’s resilience has become its greatest economic strength. According to him, this crisis-to-opportunity mindset will continue to propel India’s growth over the next several decades.