Amid world is going through recession, India’s economy is doing good: Says World Economy Forum

Borge Brende who is the President of the World Economic Forum has heaped praise on the Indian Prime Minister Narendra Modi, stressing on the fact that Indian economy is just doing good despite the global slowdown.

Expressing his opinion on Prime Minister Narendra Modi’s website, Brende wrote that the platform was well set for India to realize its vision of becoming a five-trillion dollar economy in the upcoming five years and 10-trillion dollar economy in the next decade-and-a-half.

“India’s commitment to renewable energy through voluntary and ambitious renewable power capacity targets, a lead role in the Paris Climate Agreement negotiations and the International Solar Alliance shows its aspiration of becoming a leader in environmental security and climate change mitigation,” said Brende.

He also cited India’s expansion in space exploration through sensational breakthroughs like the recent lunar mission and its reputation of becoming the fourth country in the world to launch a low-orbit satellite with a missile.

Crediting India’s leadership role in the region, Brende added that India is also more involved in global humanitarian efforts and development schemes like the infrastructure development in Afghanistan, the International North-South Transport Corridor, the Chabahar port, the Ashgabat Agreement and the India-Myanmar-Thailand highway.

In his recently-written article, Brende mentioned the sensational rise of India’s rank in Global Innovation Index to 52nd spot this year describing that India is one of the very few countries to have consecutively enhanced its rank for nine years.

He also went on praise India’s astute leadership traits under Prime Minister Narendra Modi for undertaking groundbreaking structural reforms reflecting its growth ambitions and development schemes.

He wrote: “In the past decade, India has witnessed a mushrooming of start-ups, innovating across domains such as digital payments, online retail, education and software. The number of Indian unicorns has also risen every year.”

“Initiatives aimed at revamping India’s restrictive business regulations have already borne fruit. India’s 65-place leap in the World Bank’s Ease of Doing Business rankings demonstrates an improved business climate and expounded investor confidence,” wrote WEF president.