New Delhi, May 30: India is an attractive investment destination and has the potential to remain the fastest-growing large economy in the world for the next 30 years, Union Minister for Commerce and Industry, Piyush Goyal, has said.

Goyal said the country has maintained sustained growth of 6–7 per cent and hopes to push it to 8 per cent at constant prices.

Speaking at the CII ‘Annual Business Summit 2025’ here, the minister said that even amid international upheavals, “we are among the better-performing emerging markets”.

“Today, India holds the 4th largest foreign exchange reserves in the world at about $690 billion. Our inflation has remained below 4 per cent for the last three months. The Reserve Bank has done a commendable job balancing liquidity and currency management,” he told the gathering.

Goyal highlighted India as an attractive investment destination. “Over the past 20–25 years, Indian companies have delivered nearly 20 per cent CAGR returns, making India a compulsive investment destination. FDI inflows are consistently breaking records. We are back on track on the growth trajectory, working through international trading relations,” he added.

The minister cited progress on various Free Trade Agreements (FTAs), including those with the UAE, Australia, the UK, the four EFTA countries (Iceland, Liechtenstein, Norway, and Switzerland), and the ongoing bilateral trade agreement negotiations with the US.

“We are well on track with our bilateral trade agreement with the USA and making fast progress with the European Union’s 27-nation bloc. We have also launched negotiations with New Zealand,” he stated.

The EFTA countries have committed $100 billion in foreign direct investment (FDI) to India over the next 15 years. This is expected to crystallise into a total investment of $500 billion.

Furthermore, the large ecosystem that will be created around this investment has the potential to attract an additional $500 billion. “We are not aiming small,” said Goyal, emphasising that this figure does not include investments from the Norwegian Pension Fund and represents pure FDI.

He further highlighted that this is the first Free Trade Agreement (FTA) in the world to include such a forward-looking investment clause.

Goyal expressed pride at India’s continued economic progress and stated that the IMF has projected that by 2027, India will be the world’s third largest GDP. He added that despite global volatility, uncertainty and complexity, India remains the fastest-growing economy and continues to power global growth through growth in India.

The minister underlined that growth through trade, resilient supply chains and innovation would remain incomplete without inclusive growth.

New Delhi, May 30: Delhi-NCR is set to witness more rain and stormy weather on Friday, as the India Meteorological Department (IMD) has issued an orange alert for the region, warning of thunderstorms, lightning, and strong winds reaching speeds of 50-60 km/h.

According to the IMD forecast, partly cloudy skies will persist throughout the day, with light to moderate rainfall expected across various parts of the city. Maximum temperatures are likely to hover between 36 and 38 degrees Celsius, while the minimum may range from 26 to 28 degrees Celsius.

The alert was upgraded from yellow to orange following observations of intensified weather activity. On Thursday, parts of Delhi had already experienced light showers and gusty winds reaching up to 60 km/h.

Friday could see stronger winds of up to 70 km/h, the IMD said, increasing the likelihood of waterlogging, traffic disruptions, and minor damage to infrastructure.

The orange alert signifies potentially severe weather conditions that could disrupt normal life, prompting the public to remain cautious and take necessary precautions. The alert is issued when heavy rainfall is anticipated, typically exceeding 115.6 mm and up to 204.4 mm within 24 hours.

Delhi has already witnessed an unprecedented 186.4 mm of rainfall so far this May, making it the wettest May on record for the city. This irregular precipitation pattern is linked to the early advancement of the southwest monsoon, which reached Kerala on May 24, a week ahead of schedule, and Mumbai on May 26, significantly earlier than its usual onset date of June 11.

While the monsoon typically hits Delhi around June 27, the IMD has yet to specify when it will arrive in the capital this year. “We are closely monitoring the progress,” an IMD official said.

Meanwhile, Delhi’s air quality remained in the ‘moderate’ category on Thursday, with the Air Quality Index (AQI) recorded at 151 at 4 p.m., slightly worse than the 133 measured at the same time a day earlier.

Evening showers on Thursday brought temporary relief. However, the rainfall was not intense enough to significantly offset the prevailing humidity and heat.

The IMD advises residents to stay indoors during stormy periods, avoid sheltering under trees, and secure loose outdoor items to prevent accidents or damage.

New Delhi, May 29: The Central Bureau of Investigation (CBI) has arrested two accused, including an Office Assistant/ Verification Officer working at Passport Seva Kendra (PSK), Lower Parel in Mumbai and an agent in a case related to issuing passports based on fake documents in lieu of a bribe.

The CBI registered a case against the Office Assistant/VO, PSK, Lower Parel, Mumbai and other private persons working as passport agents.

According to a statement issued by the CBI’s office in Delhi, during the years 2023-2024, the said accused officer entered into a criminal conspiracy with other private persons. In furtherance of the said criminal conspiracy, he was obtaining an undue advantage by doing passport-related work.

Along with the agent and other unknown persons, the accused official issued fake passports to applicants based on forged documents.

It was further revealed that seven unknown persons purporting as applicants had submitted forged documents such as Aadhaar card copy, Pan card copy, Bank Account Statement and Birth Certificates as their address and identity proofs to the Passport Office.

During the investigation, all the documents provided were found to be forged.

Further, chats between the accused public servant and the agent revealed discussion about the payment of undue advantage from these fake passport applicants.

The CBI press note said that the investigation also revealed that mobile numbers provided by applicants in the passport applications were not in service.

The ‘Police Verification’ was carried out after issuance of those passports under the Tatkaal Scheme (earlier waived during the issuance of passports), and the findings were adverse, as the addresses provided on the passport applications were fake.

“As the accused were evasive and did not cooperate during the investigation, both were arrested,” the press note mentioned.

The two accused were produced before the Special CBI Court, Mumbai and were sent to police custody for five days till June 2.

The CBI said that the investigation is continuing in the case.