The 21st Century will Belong to India

India will overcome its challenges this century and will emerge as a global economic powerhouse

- PUNIT RENJEN

IN THE YEAR ahead, India's voice and achievements will be heard the world over.

In December, for the first time, India assumed presidency of the G20-a grouping of wealthy, fast-growing economies that accounts for four-fifths of the world's gross domestic product. As president, India will host 200 events across the country an opportunity to showcase the nation's progress in digital adoption, empowerment of women, and efforts to bring millions of low-income earners into the formal economy. To be in this position is a source of great pride for India. And I believe it is just the beginning. There is more to come. Much more. This is India's century.

G20 colleagues visiting India in the coming months will see an economic superpower in the making. In fact, many believe India is set to become the world's second-largest economy by 2050, three years after its centenary.

The centenary, in 2047, is the target year Prime Minister Narendra Modi identified for India to graduate to developed economy status. Many segments of the economy are already developed, indeed are world class. The most obvious among them being technology and pharma. However, large swathes of the economy remain emerging or even undeveloped, making the goal of parity across all parts of the economy and its billion-plus people, a noble ambition for PM Modi.

And for me, therein lies the noblest aspect of India's ascent: not just the opportunity to grow, but to grow in a way that is inclusive and equitable.