India to emerge as $10 trillion economy soon claims Børge Brende, Prez & CEO, World Economic Forum
India to emerge as $10 trillion economy soon claims Børge Brende, Prez & CEO, World Economic Forum
In the midst of his talks with the Editors of Business Today and India Today TV over the global economy and India, Børge Brende, President and CEO of the World Economic Forum,expressed
optimism over India’s growth. Though globally, the economic growth is more sluggish than it was in the past few decades,
He went on to claim that India will keep growing to be the third-largest economy in the world, with a GDP of $5 trillion.
And while speaking at the World Economic Forum’s 2025, he warned that the most challenging factor apart from the conflict in Ukraine is the outbreak of a “full-fledged war” and trade wars.
He also remarked that “so far, it hasn”t been good news for global growth. We are far below the trend growth of nearly 4% in the past decade. Now it is maybe even below 3%. The third is global debt, because they haven’t seen so much global debt since the Second World War.”
About India, Børge Brende said that because it has doubled its GDP in a decade, it can keep growing 6-7% in the coming years.
He further explained that because the median age in India is 28, it is beneficial for the economy.
Adding that the workforce is growing every year, and there are a lot of very tech-savvy young people,” he added.
However, he asserted that India needs to work more on deregulation, cutting red tape, and improving infrastructure.
“If India does that, it will play a significant role also in the coming decades geopolitically and geoeconomically,” he added.
When questioned over AI, he admitted that, Every paradigm shift in technology can reduce or kill some jobs, but it can also create jobs higher up the value chain.
Børge Brende even claimed that AI has a huge impact on productivity.
Their economists say implementing AI proactively can increase productivity by 10%,” he shared. “That gain can be reinvested.”
News Edit KV Raman
