WEF Upbeat On India’s GDP Growth

New Delhi: World Economic Forum (WEF) president and CEO Borge Brende has forecast a 7 to 8 per cent GDP growth for India on the back of higher investments driven by economic reforms.

In an interview in Switzerland’s Davos, Brende said: “India has a great potential, and it is still growing pretty well, 6 per cent this year. But there is no reason why India cannot pick up again and do 7 per cent, 8 per cent, provided that there are reforms on investments, infrastructure, investing in education and R&D.”

“We do expect that in a few years, India will be 20 per cent of the overall global growth. That is quite incredible. And what works also for India is the enormous strength in startups. There are more than 1,20,000 startups in India. I think there are now more than 120 unicorns. So that ecosystem, I think, is the basis also for future growth,” he pointed out.

On whether India’s target of becoming a developed nation by 2047 is realistic, Brende said India would be a $10 trillion economy soon, and what also works in the interest of the country is that the economy is now pivoting more towards digital trade and services.