World Economic Forum (WEF) President Borge Brende highlighted India’s potential to achieve 7-8% economic growth with strategic reforms in investment, infrastructure, education, and research. Speaking at Davos, Brende praised India’s startup ecosystem, which boasts over 120,000 startups and more than 120 unicorns, as a critical driver of future growth. He also noted India’s role in contributing 20% to global growth in the coming years, underscoring its evolving position as a major economic player.
India’s ambition to become a developed nation by 2047 aligns with its progress in digital trade and services, which are expanding three times faster than traditional goods trade. Brende emphasized that digitalisation increases productivity and enables a shift towards higher-value jobs, though it requires significant upskilling and reskilling efforts.
The WEF president also stressed the urgency of addressing climate change, warning that inaction could result in higher costs than proactive measures. He highlighted the critical need to reduce carbon emissions to meet the 2-degree Celsius target, which is particularly vital for vulnerable nations like India. Rising temperatures and environmental challenges already impact agriculture and food production, necessitating global collaboration to mitigate climate risks.
India’s participation at Davos, with representation from five Union ministers, three chief ministers, and several state leaders, aims to strengthen partnerships, attract investments, and showcase its leadership in sustainable development and technological innovation. The five-day WEF meeting will focus on reigniting growth, leveraging new technologies, and enhancing global resilience.
