India is poised to become a USD 10 trillion economy in the coming years, securing the third-largest global economy position, according to World Economic Forum President Borge Brende. In an exclusive interview with PTI, Brende highlighted India’s unparalleled optimism amid a fragmented and polarized global landscape.
Highlights:
- Optimism Amid Global Challenges: Borge Brende commended India’s resilience, citing it as a beacon of optimism in a world facing geopolitical recession and polarization. He expressed the World Economic Forum’s keen interest in collaborating further with India.
- Fastest Growing Economy: India’s economy stands out as the fastest-growing among major global economies. Brende noted the substantial interest in India at the Davos summit, indicating a continued trend.
- Collaboration Opportunities: Despite global challenges, Brende emphasized the importance of identifying collaborative opportunities. He highlighted Indian Prime Minister Narendra Modi’s welcome presence at Davos and the need for finding areas of collaboration.
- Economic Growth and Reforms: Brende acknowledged India’s robust economic growth of 7% and applauded the country’s successful implementation of crucial reforms. He underscored India’s competitiveness vis-a-vis the US and China, predicting it to become a USD 10 trillion economy soon.
- Digital Competitiveness: India’s digital prowess and competitiveness were lauded by Brende, who noted the rapid growth of digital trade globally. With a strong digital foundation and increasing foreign direct investments, India is well-positioned for economic ascent.
- Global Diplomatic Role: As India prioritizes economic growth, Brende predicted a growing Indian influence on the global diplomatic stage. India’s measured approach to geopolitical issues, avoiding knee-jerk reactions, sets it apart in the Asian region.
- Digitalization Challenges: While recognizing India’s strides in digitalization with 1.4 billion people having digital IDs and linked bank accounts, Brende cautioned about potential challenges. He stressed the need for vigilance and policies to address issues like cyber threats and deepfakes.
Borge Brende’s positive outlook on India’s economic trajectory reflects a global acknowledgment of the country’s resilience, growth, and strategic importance. As India continues on its path to becoming a USD 10 trillion economy, the world watches for opportunities to collaborate in the face of ongoing challenges. Stay tuned for further updates on India’s economic journey and its evolving role on the international stage.
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