‘Exporting prosperity’: WEF chief says India driving 18% of global growth, agri reforms key for future growth

Børge Brende, President of the World Economic Forum, has underscored India’s growing significance in the global economy, particularly as the world’s fastest-growing major economy. Speaking in a recent interview, Brende highlighted the key drivers behind India’s economic success and its expanding influence on the global stage, with particular emphasis on the country’s services and digital trade sectors.

"India is now contributing 18% of global growth, which is a staggering number when you consider the implications for global prosperity," Brende said in an exclusive interview with India Today. This growth, fueled by India’s robust services and digital trade sectors, positions the country as an essential player in shaping the future global economic landscape.

India’s rapidly expanding digital economy is seen as a crucial element in its overall economic strategy. As businesses and governments increasingly turn to technology to drive productivity, India’s burgeoning digital infrastructure and services have become key assets in its global economic footprint. From software services to digital platforms, India has emerged as a vital contributor to the digital revolution that is transforming industries worldwide.

Brende further emphasised that India’s role in digital trade is vital for its future economic growth. "India is developing into a global leader in digital trade, particularly in services, which are increasingly driving economic success," he noted. Digital services, including IT outsourcing, software development, and online commerce, have played a pivotal role in India's economic rise. With an ever-growing pool of skilled professionals in the tech sector, India’s continued success in this area will likely shape its future position in the global economy.

However, Brende also pointed to one key challenge for India’s sustained growth: access to global markets, particularly the US. The United States remains a critical partner for India, with both countries having strategic economic interests. "India’s relationship with the US is essential for the long-term growth of the Indian economy," he said, highlighting the importance of ensuring that trade barriers are minimized to allow for greater market access.

With India set to become one of the world’s leading economies in the coming decades, Brende emphasized the country’s potential to continue its trajectory as a powerhouse in services, digital trade, and innovation. He also pointed to the larger global context, where India's growth is helping to drive global prosperity by increasing demand for goods and services from other countries.

"India is not just growing for itself but is also exporting prosperity through its rapid economic expansion," Brende said, illustrating how the country’s growth benefits both its own citizens and the global community.

Agriculture a key challenge

The WEF chief also emphasised the importance of agricultural reforms in India, noting that the sector employs a large share of the population and remains politically sensitive. “Sometimes slow is fast,” he observed, cautioning that reforms must balance efficiency with social realities.

Brende concluded that India’s rapid expansion, coupled with potential for deeper US collaboration, makes it a pivotal force in shaping global growth and prosperity.