India on track to become $10 trillion economy, set for 3rd largest slot: WEF President
New Delhi (PTI): India is on track to become a USD 10 trillion economy in coming years and grab the third-largest slot soon, World Economic Forum President Borge Brende said on Thursday as he described the country as a place with optimism not seen elsewhere in a very fragmented and polarised world.
In an exclusive video interview with PTI, Brende also said that the World Economic Forum (WEF) hopes to come back to the country with the WEF India Summit in collaboration with Government of India when the time is ripe.
"The Indian economy is the fastest growing among all large economies of the world. We saw in Davos this year that there was a huge interest in India and I think this will only continue," Brende said.
Geneva-based WEF, which describes itself as an international organisation for public-private cooperation, holds its annual meeting in the Swiss ski resort town Davos every year in January.
Brende said Indian Prime Minister Narendra Modi is "always very, very welcome to Davos".
"When you come to India, you feel some optimism which is not the case all over the world. We are facing a geopolitical recession, a very fragmented and polarised world, but still there are areas where we can collaborate and it is important to find those areas," he said.
Brende said it is necessary to underline that the economic growth is not so bad, especially in the case of India where "we are seeing 7 per cent economic growth and the world's largest economy, the US, which is also doing very well."
On India targeting to become the third largest economy in the next 2-3 years, Brende said India is on track to become a USD 10 trillion economy in the coming years.
"India has gone through important reforms and it is well placed vis-a-vis the two largest economies, the US and China. Also, India is seeing a good increase in foreign direct investments, a lot of manufacturing activities are now taking place in India which used to happen in other emerging economies," he said.
He also lauded India's digital competitiveness and said digital trade is growing much faster than traditional goods in the world today.
"India is well placed and it is just a question of time before India becomes the third largest economy in the world after the US and China," he said.
On India's role in handling geopolitical conflicts, Brende said, "We will see a larger and larger Indian footprint on the global diplomatic scene in the years to come."
India's major priority so far has been to secure economic growth, eradicate poverty, and ensure that India is flourishing when it comes to prosperity.
"I think India has also stayed away from any knee-jerk reactions on geopolitical issues. It's not an easy neighbourhood in Asia but India has dealt with situations very well and we do not see any conflicts in this region as we have seen in places like Ukraine and the Middle East," he added.
Brende said India is an important country when it comes to digitalisation with 1.4 billion people with digital IDs, linked bank accounts and effective payment systems.
"At the same time, the advent of new technologies raises concerns. While there are big opportunities presented by generative AI, there are also threats in the form of deepfakes and increased cyber attacks. So, it is very necessary to be vigilant and also have policies for that," he said.
For example, cybercrime last year stole USD 2 trillion from the global economy, he said.
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Mamata alleges BJP disrupted her Bhabanipur rally, Suvendu claims 'she's nervous'
Kolkata (PTI): Chief Minister Mamata Banerjee cut short her speech at a rally in her Bhabanipur constituency, alleging that the BJP was deliberately playing loud music from a nearby public meeting.
A peeved Banerjee said despite having the required permission of the Election Commission, her rally in Chakraberia was disrupted by the BJP, "who want to capture Bengal by intimidation and threat".
"It is not possible for me to go ahead with this meeting. If they can do such a thing in my constituency, imagine how undemocratic the BJP is. If they behave like this, I have to take legal action," she said.
"This is an insult, humiliation. BJP is stepping on our toes to instigate trouble. Not possible to address the gathering in this situation. I am leaving the stage. Please vote for me in your protest," she added.
Banerjee was then seen calling someone over and venting her grievances.
Before leaving the stage, she said, "I will hold a rally tomorrow at the same spot."
TMC supporters then rushed towards the BJP rally, which was later addressed by Leader of the Opposition Suvendu Adhikari, but security personnel intervened and prevented the situation from escalating.
TMC workers later staged a demonstration outside the local police station and filed a complaint, alleging that the BJP violated the model code of conduct.
A senior TMC leader said another complaint will also be lodged with the Election Commission.
Asked about Banerjee's allegations, Adhikari told reporters after the rally he held nearby, "Her reaction shows she is nervous about the imminent loss."
"There was no violence, no obstruction in her meeting and her behaviour shows her nervousness. On May 4, people of Bhabanipur will celebrate the victory of the BJP," he claimed, alleging that the TMC also tried to disrupt his meeting by playing loud music.
South Kolkata's Bhabanipur, one of the battleground seats in the West Bengal elections, will vote in the second phase on April 29.
