Davos 2026: ‘Expected India’s economic reforms in the coming decade, not past months,’ says WEF President Borge Brende

World Economic Forum President Børge Brende said that he had expected all the recent economic reforms in India, but had not expected them so soon – perhaps in the coming decade. Brende said the reforms were also accelerated due to US President Donald Trump’s 50 per cent tariffs on India. He said that India is definitely going to sign trade deals with both the US and European Union. 

Speaking with Business Today on the first day of the WEF Davos 2026, Brende said, “It is amazing how much economic reforms have happened in India just in the last months. I was expecting but I thought it was gonna happen in the coming decade. I think the situation between India and the US has accelerated some of the political incentives from the government.” 

Brende said that “down the road there will be an agreement between the US and India”. He said India has “more self confidence” now. 

“It is the fastest growing of the large economies of the world, contributing to 20 per cent of the overall growth. It is incredible. I think in that situation India can make deals on trade that’s in India's interest. That’s the thing. India will do it when it is in the interest of the long term development of India,” said Brende. 

He also spoke about the European Union’s trade deal with India. He said many of the big Latin American countries have a trade deal with Europe, which was not foreseen because there were many difficult issues related to agriculture. 

“Now, I think it is time for India and the EU and there are traditionally many challenges there but both India and EU are seeing the benefits. They are also sending a strong signal that the deal is gonna be made. I would say that in the trade outlook, we still expect a 3 per cent growth this year. It is not contracting, it is just growing slower than in the past. Trade is like water, it finds its way,” he said. 

Watch the conversation here: