WEF Chief Forecasts India as Major Driver of Global Growth by 2025

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During the World Economic Forum (WEF) in Davos, Borge Brende, the WEF president and CEO, projected that India could account for 20% of global economic growth in a few years. Speaking to NDTV, Brende emphasized that India possesses great potential, with the growth rate of 6% this year and the possibility to increase to 7-8% through necessary reforms in investments, infrastructure, education, and research and development.

Brende noted that India's thriving startup ecosystem, comprising over 120,000 startups and 120 unicorns, would support its economic expansion. He expressed optimism about India's goal to become a $10 trillion economy and acknowledged the pivot towards digital trade, which is growing three times faster than traditional goods.

While addressing the challenges posed by digitalization, Brende highlighted the need for upskilling the workforce to improve productivity and navigate potential job disruptions. He underscored the urgency of climate change action, stating that the consequences of inaction are far more significant than the costs involved in implementing solutions.

The five-day WEF meeting gathers nearly 3,000 leaders from over 130 countries, including 350 governmental leaders. India's delegation includes five Union ministers and several state ministers, reflecting its aim to strengthen partnerships and position itself as a leader in sustainable development and technological innovation.

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