Indian Economy may cross Threshold of next Trillion Dollars within 2 Years, says WEF Chief

New Delhi (India), 26th May 2023: India took 60 years to become a trillion-dollar economy, but it might reach the next trillion in the next two years, according to World Economic Forum President Borge Brende. He stated this while speaking at a CII session in New Delhi on May 25.

Borge added that the goal of reaching a trillion-dollar economy has been aided by India’s digitisation, which is a success story for the rest of the globe.

He was quoted saying, “The budget for digital infra increased by 25 percent from 2022 to 2023. This is on top of the increase in digital budget allocations over the past several years.”

This digitisation has resulted in the creation of 77,000 startups and several global unicorns, according to Borge. Adding, he said that it was Indians who previously ran Silicon Valley and now we have Indian startups ruling the world.

However, Borge cautioned that only an open predictable policy for investments, free of red tape, will help the country maintain its growth momentum.

G20 Sherpa Amitabh Kant also complemented India and it’s economy, Kant noted that India had built 40 million dwellings in the last seven years. Being the world’s fastest-growing economy he said, “We’ve built 110 million toilets. We have connected 230 million pipes to water. We produced 2.5 billion covid vaccinations throughout covid.”

Further Amitabh said, “India did in 7 years, what it would have required 50 years to do.”

According to Kant, the G20 is also prioritising global economic growth, focusing on reaching sustainable goals and putting women at the forefront of this progress.

He stated that India accepts responsibility for climate change action. “India has not contributed to the carbonisation of the world, but we must be the first to do our part in de-carbonising it.”