- From the economy to the energy transition, India’s action on crucial global issues was a major topic of discussion at the World Economic Forum’s Annual Meeting 2023 in Davos, Switzerland.
- By 2035, India will become the third $10 trillion economy, the Center for Economics and Business Research (CEBR) predicts.
- Here are five highlights on India from this year’s Meeting, which saw participation from key government and private sector leaders.
This year’s World Economic Forum Annual Meeting saw leaders from around the world come together to discuss various aspects of the cascading and connected crises that threaten a polycrisis.
There’s the war in Ukraine, which has sent energy and food prices soaring. The resulting inflationary pressures have ignited a global cost-of-living crisis, leading to social unrest. On top of all that, carbon emissions continue to rise as economies reopened after the pandemic.
None of this has had an impact significant enough to derail India’s growth, as reflected in responses from political and private leaders at Davos. From the economy to the energy transition, India’s action on crucial global issues was a major topic of discussion at Davos 2023.
Missed the sessions? Here are five highlights on India to get you up to speed.
On economy: India’s ‘high growth, moderate inflation’ strategy
The economic outlook for 2023 differs depending on where you are in the world, according to the World Economic Forum’s Chief Economists Outlook.
According to the survey, economists are most optimistic about the Middle East and North Africa (MENA) and South Asia. The report suggests that some economies in the region, including Bangladesh and India, may benefit from global trends such as a diversification of manufacturing supply chains away from China.
The view aligns with predictions from the London-based consultancy Center for Economics and Business Research (CEBR), which says that India will become the third $10 trillion economy by 2035.