New Delhi, December 3 (IANS). Global investor Mark Mobius said on Tuesday that under the leadership of Prime Minister Narendra Modi, India’s huge consumer population and huge production capacity will help the country to be recognized globally, which will make the country equal to or even surpass the Chinese economy in the future.
India can become the world’s third largest GDP with a $5 trillion economy in the coming years. 10 years ago, India was the tenth largest economy in the world with an economy of $1.9 trillion.
Mobius further said that under the “China + 1” strategy, new investment is coming to India and many big companies are investing here.
He further said that India is going to become a preferred destination for setting up global supply chains, manufacturing materials and equipment, it will be at the expense of China.
Mobius further said that Prime Minister Narendra Modi has completed a very important task by digitizing the Indian economy.
“This has brought in a lot of efficiency and increased infrastructure,” the veteran investor told IANS. “You have to remember that internet is part of the infrastructure of any country and Prime Minister Modi has taken various initiatives (Digital India, Make in India , Skill India, IndiaAI Mission and others) to improve it.”
Furthermore he said, “When you travel in India, you see that there is a lot of infrastructure building activity going on, like new roads and bridges etc.”
According to Mobius, some countries especially China have taken advantage of World Trade Organization (WTO) rules and there will soon be “a reset” and “the future is very bright for India.”
—IANS
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