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World Economic Forum President Borge Brende expects India will mark 8 percent growth this year Indian Economy
Photo Courtesy: Børge Brende X page

World Economic Forum President Borge Brende expects India will mark 8 percent growth this year

India Blooms News Service | @indiablooms | 16 Jan 2024, 06:03 pm

World Economic Forum President Borge Brende feels India will witness an 8 percent growth this year.

He sees India's growth story will continue despite the world witnessing a slowdown, geopolitical tensions and weak investment cycle.

He told Business Today: "We think, in the coming decade, we can be speaking about a $10 trillion economy, at least in the coming two decades."

"India has been at the forefront due to the digital economy and the export of services. This is a very sweet spot for India. But, of course, reforms should have to continue in India. Reforms related to education, funding and reforms to tackle unnecessary red tape should continue. I feel there is an understanding of all these things in New Delhi," Brende said.

"For India, I think if trade grows again and India gets a little bit more help from the global economy in 2025, I think, as I said, that India will be in a medium-term to long-term, a $10-trillion economy, provided that the reforms do continue," he said.

Speaking on the world economy, he said the WEF projected a 2.9 per cent economic growth this year.

 "We should also acknowledge that a lot of economists expected a recession in the US. It's the largest economy in the world that is 25 per cent of the GDP. There is no recession. It's probably a soft landing. We're seeing influence abating a bit. Interest rates will then go down," he said.

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