Renowned economist and Nobel laureate, Mr. A. Michael Spence, commended India as a significant economic powerhouse with immense growth prospects, acknowledging its position as the world’s foremost digital economy and leader in financial infrastructure. Speaking at Bennett University in Greater Noida, Mr. Spence underscored India’s remarkable openness, competitiveness, and inclusive service delivery spanning a vast geographical expanse.
Addressing the evolving dynamics of the global economy, Mr. Spence pointed to a paradigm shift driven by various factors such as pandemics and geopolitical tensions. He highlighted the ongoing transformation characterized by the diversification of supply chains and the growing complexity of global governance structures. Despite these challenges, Mr. Spence remained hopeful, citing measures aimed at improving human welfare and significant advancements in science and technology, including the development of generative AI and breakthroughs in biomedical life sciences and energy transitions.
