India’s Economic Ascent Recognized by WEF Chief
India’s economic trajectory has once again drawn global attention, with Børge Brende, the President and CEO of the World Economic Forum (WEF), describing the country as a standout performer among the world’s major economies. He praised India’s resilience and pace of expansion, stating:
“Of the largest economies of the world, India is the bright spot. It is really doing well. In the last quarter, it even did better than expected—7.5% growth.”
Brende further projected India’s potential to surpass Japan in the global economic rankings:
“India will be the fourth-largest economy in the world—$5 trillion—maybe already this year, and take over the fourth place from Japan.”
This recognition comes at a time when global economic outlooks are marked by increasing uncertainty, trade protectionism, and rising debt. The WEF’s latest reports point to a concerning slowdown in global manufacturing and merchandise trade, yet India continues to defy this trend through dynamic performance, particularly in services and technology.
India’s Strategic Position in Global Trade
One of the key reasons for India’s robust performance, according to Brende, is the country’s alignment with new global trade patterns. He noted that trade in services and digital platforms is growing nearly three times faster than trade in physical goods. India, with its flourishing IT and service sectors, is well-positioned to benefit from this transformation.
This shift places India at a strategic advantage, not just in terms of exports, but in shaping the future of cross-border commerce and supply chain innovation.
Demographic Advantage and Future Outlook
Another factor propelling India’s rise is its demographic strength. Brende pointed out that India has one of the youngest populations globally, with a tech-savvy workforce ready to power the next wave of innovation and economic progress.
“India’s demographics are very young. That is a huge advantage,” he remarked, emphasizing the long-term potential of the country to attract investment and create sustainable growth.
As India marches forward, policymakers and businesses are being called upon to maintain the momentum through structural reforms, skill development, and inclusive policies that can unlock the full potential of its workforce.
With global forums and business leaders turning their attention to India, the nation is not only poised to move up the economic ranks but to shape the future contours of global trade and innovation.
