India emerging as global power hub with huge growth potential: Global experts at Davos | India News

DAVOS: India is fast emerging as a strong global powerhouse thanks to its large and young population, expanding economy and growing innovation ecosystem, global industry leaders said on Thursday.

Speaking to IANS on the sidelines of the World Economic Forum here, business leaders highlighted India’s growing importance in global economic development and its ability to attract long-term international investment.

Sharing a global perspective, Tu Chang, Founder of Taiwan Business Forum, said India’s demographic advantage makes it one of the most important economic powers in the world today.

“India is emerging as a strong global powerhouse. With its large and young population, India offers tremendous potential for growth and innovation,” Chang said.

Tu Chang said India is already seen as one of the key powerhouses of global economic growth and will continue to play this role in the coming years.

He added that the World Economic Forum this year addressed a wide range of issues, including sustainable development, capital flows, investments and political challenges, all of which are closely linked to economic progress.

“The country’s demographic advantage and expanding economy are key factors that will attract more global investments,” he explained.

He also praised Prime Minister Narendra Modi’s leadership, saying the Indian government is making strong efforts to improve economic performance.

“India’s young workforce is a great strength and under Prime Minister Modi’s leadership, the country is well positioned to perform even better in the coming years,” Tu Chang said.

Milind Pimprikar, Founder of Caneus International, said discussions at the World Economic Forum this year focused on growing technologies responsibly.

He said Caneus is working with the Government of Maharashtra and the Government of India to create a new framework to help startups and deep tech innovations move from development to large-scale commercialization.

“The topic of the World Economic Forum today is how to scale technologies responsibly,” he said.

“Through our partnership with the Government of Maharashtra and India, we propose to create the so-called mid-tech readiness level to elevate these technologies and startups to the next level,” Pimprikar told IANS.

Pimprikar said the partnership aims to offer an “intermediate level of technology readiness” that will help promising technologies and startups reach the next stage of growth.

He added that an agreement has been signed with the Chief Minister of Maharashtra to establish an institute dedicated to commercialization of deep technologies that will support innovation-led growth in India.

“India’s strong economic momentum, expanding infrastructure and mature business ecosystem make it an attractive destination for global investors,” said Frank Meehan, co-founder of Frontier One Australia.