Updated February 22nd, 2024 at 17:08 IST

WEF President foresees India as $10 trillion economy

President also lauded digital competitiveness, noting the rapid growth of digital trade compared to traditional goods.

Reported by: Business Desk
WEF President foresees India as $10 trillion economy | Image:Official website
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Rapid economic growth: World Economic Forum (WEF) President Borge Brende expressed optimism about India's economic trajectory, predicting that the country is on course to become a $10 trillion economy and secure the third-largest economic position globally. In an interview, Brende highlighted the government's rapid economic growth, citing it as the fastest among all large economies worldwide.

Brende emphasised the interest showcased at the recent Davos meeting, indicating a positive outlook for the country's future. He praised the government's economic reforms, increased foreign direct investment, and growing manufacturing activities, positioning the nation favourably vis-a-vis the US and China.

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Diplomatic approach

The WEF President also lauded digital competitiveness, noting the rapid growth of digital trade compared to traditional goods. He highlighted the importance of vigilance against cyber threats, citing cybercrime's significant impact on the global economy.

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Regarding the country's role in geopolitics, Brende commended the diplomatic approach and its focus on economic growth and poverty eradication. He noted the government's adept handling of complex geopolitical issues, contrasting it with conflicts in other regions.

Brende expressed confidence that the economic growth trajectory will continue, leading to its emergence as the world's third-largest economy. He highlighted the need for collaboration and finding common ground in a world facing geopolitical challenges.

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(with PTI inputs)

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Published February 22nd, 2024 at 17:08 IST