“INDIA CAN BECOME A $10 TRILLION ECONOMY SOON”

Børge Brende, President and CEO of the World Economic Forum, on the global and Indian economy, and the future of trade

- SIDDHARTH ZARABI

RISING TRADE BARRIERS, slowing global growth and shifting economic dynamics, the World Economic Forum’s 2025 outlook is packed with several red flags. But amidst all that uncertainty, India stands out as a bright spot.

Børge Brende, President and CEO of the World Economic Forum, talks to Siddharth Zarabi, Editor of Business Today, and Rajdeep Sardesai, Consulting Editor of India Today TV, about the current economic climate. Edited excerpts:

SZ: What is your reading of the world economy at this point?

Global growth is more sluggish than it was in the past few decades. But despite the current geopolitical backdrop, the global economy is more resilient than expected. There are some drivers of growth, and India is the bright spot among the largest economies. If it continues like this, India will be the third-largest economy in the world, with GDP of $5 trillion, may be already this year.

RS: What are the key uncertainties and challenges?

I would say the most challenging factor would be a full-fledged war in addition to the conflict in Ukraine. The second is the trade wars. So far, it has not been good news for global growth. We are far below trend growth of nearly 4% in the past decade. Now it is maybe even below 3%. The third is global debt, because we haven't seen so much global debt since the Second World War.

SZ: What's your reading of the trade reset that is underway?