World Economic Forum (WEF) President Borge Brende has highlighted India’s remarkable economic growth, forecasting it to be the highest among the world’s major economies this year. He emphasized that India is currently experiencing the “famous snowball effect,” which will result in increased investments and job opportunities.
Collaborations with WEF
India, currently holding the G20 presidency, has maintained close collaborations with the World Economic Forum over the years. These collaborations have fostered India’s thriving ecosystem of startups, which is more extensive than in any other developing country.
Reforms and Positive Climate for Investments
Brende acknowledged the impact of recent reforms in India, which have reduced bureaucracy and created a better climate for investments. He also noted the ongoing digital revolution in the country. Expressing his optimism, Brende stated that he believes in India’s growth trajectory but is less optimistic about global growth.
Exponential Growth and Eradicating Poverty
The “snowball effect” observed in India’s economy indicates a trend of exponential growth. Brende explained that this growth will lead to more investments and job opportunities. Additionally, he believes that this trajectory will contribute to poverty eradication and provide greater opportunities for India’s youth.
Learning from India’s Example
Brende praised India as the largest democracy in the world, highlighting its open society that encourages entrepreneurship, innovation, and free speech. He emphasized that nations in the developing world can learn valuable lessons from India’s progress.
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