WEF chief: “India on its way to become $ 10 trn economy”

WEF president Borge Brende

Rama Krishna Sangem 

India is on track to become a $10 trillion economy in coming years and grab the third-largest slot soon, World Economic Forum President Borge Brende said on February 22 Thursday as he described the country as a place with optimism not seen elsewhere in a very fragmented and polarised world.

In an exclusive video interview with PTI, Brende also said that the World Economic Forum (WEF) hopes to come back to the country with the WEF India Summit in collaboration with Government of India when the time is ripe.

“The Indian economy is the fastest growing among all large economies of the world. We saw in Davos this year that there was a huge interest in India and I think this will only continue,” Brende said.


India is of optimism

Geneva-based WEF, which describes itself as an international organisation for public-private cooperation, holds its annual meeting in the Swiss ski resort town Davos every year in January. Brende said Indian Prime Minister Narendra Modi is “always very, very welcome to Davos”.

“When you come to India, you feel some optimism which is not the case all over the world. We are facing a geopolitical recession, a very fragmented and polarised world, but still there are areas where we can collaborate and it is important to find those areas,” he said.

Brende said it is necessary to underline that the economic growth is not so bad, especially in the case of India where “we are seeing 7 per cent economic growth and the world’s largest economy, the US, which is also doing very well.” On India targeting to become the third largest economy in the next 2-3 years, Brende said India is on track to become a $ 10 trillion economy in the coming years.


Gone through major reforms

“India has gone through important reforms and it is well placed vis-a-vis the two largest economies, the US and China. Also, India is seeing a good increase in foreign direct investments, a lot of manufacturing activities are now taking place in India which used to happen in other emerging economies,” he said.

He also lauded India’s digital competitiveness and said digital trade is growing much faster than traditional goods in the world today.

“India is well placed and it is just a question of time before India becomes the third largest economy in the world after the US and China,” he said.

Rama Krishna Sangem

Ramakrishna chief editor of excel India online magazine and website

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Chief Editor

Rama Krishna Sangem

Excel India national news magazine is a media startup founded and piloted by Rama Krishna Sangem, a Hyderabad based senior journalist with over three decade experience in the field of media, mostly in print journalism. His rich experience in reporting for both Telugu and English newspapers and heading a TV news channel and some online outfits will be of immense use to this venture. Excel India English news magazine seeks to fill the gap of analytical understanding to our readers who today are confronted with myriad media platforms. Our online version not only offers regular updates and commentary on happenings around us, but also gives larger stories not limited by space constraints of a print magazine. Excel India is ably run by a team of senior journalists committed to values and quality standards in the profession. We urge you all to support and guide us in this endeavour. Reach us at excelindiaweb123@gmail.com