NEW DELHI : World Economic Forum (WEF) President Borge Brende voiced optimism that India will be the third largest economy in the world in a few years and it is important for the Country to continue reforms, build better infrastructure and invest in education.

Speaking at Summit, Brende also highlighted that countries should be allowed to be competitive and buy what is most relevant for their business.

 “There is a lot of optimism in India, which is also the basis of India’s Presidency of G20. India has been the fastest-growing economy for three years in a row, in the middle of sluggish global growth. India will be the third largest economy in the world in a few years, a 10 trillion Dollar economy in a decade and larger than Germany and Japan in a few years. It is important for India to continue reforms, build better infrastructure, and invest in education”, said Brende, President, of the World Economic Forum, in Switzerland.

Indian economy is currently ranked fifth and is behind the US, China, Japan, and Germany. In 2014 when Shri Narendra Modi was sworn in as the Prime Minister, India was the 10th largest economy. In 2022, India became the fifth-largest economy overtaking the UK.

“Future prosperity and poverty eradication will be based on open trade and strong Global Value Chains. Global Value Chains are at the core of future growth, which have to be inclusive and adjusted for climate change,” he said.