World Economic Forum President Borge Brende expressed optimism about India's economic future during the India Today Conclave 2024 in New Delhi. He stated that India is poised for strong growth over the next 25 years, provided that reforms continue.
Brende highlighted India's significant contribution to global growth, noting that 15% of all global growth last year came from India. He expects India to achieve its goal of becoming a $10 trillion economy within the next decade, making it the world's third-largest economy.
The president of the World Economic Forum emphasized the role of emerging economies in driving global growth, with India leading the way. He projected that emerging economies will account for 60% of global growth by 2040.
Brende attributed India's growth to several factors, including geopolitics, a youthful population, and changes in global supply chains. He also stressed the importance of fiscal prudence, reducing red tape, investing in infrastructure and education, and focusing on manufacturing to further boost India's growth.
In particular, Brende highlighted the need for India to streamline regulations, invest more in infrastructure, and prioritize education. He also emphasized the importance of manufacturing, suggesting that India could become a manufacturing hub similar to China if it addresses tariffs and other barriers.
