New Delhi: At the US-India Strategic Partnership Forum (USISPF) Annual India Leadership Summit, held on Monday in New Delhi, John Chambers, Chairman of the US-India Strategic Partnership Forum, delivered a resounding endorsement of the government led by Prime Minister Narendra Modi.
Chambers articulated that the administration under Modi has established a foundation conducive to sustained growth, not merely for the forthcoming five years, but for the next twenty-five years.
He posited that India, currently the world's fastest-growing economy, is poised to surpass China in terms of Gross Domestic Product (GDP) by the end of the century, marking a significant shift in global economic dynamics.
"In my view, the trajectory of India's economy suggests that by the end of this century, India will eclipse China in terms of GDP, marking a profound transformation in the global economic landscape," Chambers remarked.
He commended the Indian government's efforts over the last five years, attributing the country's future economic prosperity to the administration's strategic vision and policy initiatives.
Chambers highlighted India's remarkable transformation and digital advancements, particularly in the fields of technology and artificial intelligence, as key drivers of its economic growth.
"For the initial five years, the administration demonstrated exceptional foresight, positioning India as the world's fastest-growing economy over the next five years. I believe they have laid the groundwork for India's sustained economic expansion over the next twenty-five years," Chambers stated.
He underscored the government's Digital India initiative as a strategic endeavor, aiming to align with global market trends and leverage technology and artificial intelligence for future economic development.
"The Digital India initiative was not merely a lofty goal; it was a strategic insight into where the global market was moving, with a strong emphasis on technology and artificial intelligence as catalysts for future growth," Chambers explained.
He further noted that, within a span of just ten to twelve years, from 2015 to 2022, there was a significant increase in startup investments in India, indicating a solid foundation for the country's economic expansion over the next twenty-five years.
Discussing India's economic outlook, Chambers projected that the country's per capita income and standard of living would experience accelerated growth, surpassing that of any other nation in the world during this period.
"The per capita income growth, coupled with an enhanced standard of living, will outpace that of any other country in the world during this timeframe. India is set to become 33 percent larger than the United States," Chambers predicted.
However, he acknowledged that the primary challenge now lies in executing these ambitious plans effectively.
