India is on track to become a $10 trillion economy in the coming years and is poised to grab the third-largest slot soon, according to World Economic Forum President Borge Brende. He described the country as a place filled with optimism not seen elsewhere in a very fragmented and polarized world.
In an exclusive video interview with PTI, Brende expressed hope for the World Economic Forum (WEF) to return to India with the WEF India Summit in collaboration with the Government of India when the time is right.
“The Indian economy is the fastest-growing among all large economies in the world. We witnessed a significant interest in India at Davos this year, and I believe this interest will only continue,” Brende stated.
The Geneva-based WEF, an international organization for public-private cooperation, holds its annual meeting in Davos every January.
Brende extended a warm welcome to Indian Prime Minister Narendra Modi to Davos, highlighting the optimism felt in India despite the current geopolitical challenges.
He emphasized the importance of finding areas of collaboration in a world that is increasingly fragmented and polarized.
Brende acknowledged India’s economic growth, particularly the 7% growth rate and the country’s increasing foreign direct investments and manufacturing activities.
He praised India’s digital competitiveness and emphasized the growing importance of digital trade in today’s world.
Brende expressed confidence in India’s trajectory towards becoming the third-largest economy in the world, following the US and China.
Regarding India’s role in handling geopolitical conflicts, Brende predicted a larger Indian footprint on the global diplomatic scene in the future.
India’s focus on economic growth, poverty eradication, and prosperity were highlighted by Brende as major priorities for the country.
He commended India for its measured approach to geopolitical issues and its ability to navigate challenging situations in the region.
Brende emphasized India’s importance in the digitalization landscape, with 1.4 billion people having digital IDs, linked bank accounts, and efficient payment systems.
He also highlighted the threats posed by cybercrime and the importance of being vigilant and having policies in place to address these challenges.
Overall, Brende expressed confidence in India’s potential and its ability to navigate the evolving global landscape.
