India's Multi-Faceted Growth: Navigating the Path to Becoming the World's Third-Largest Economy

Rahul Jain of BCG highlights India's potential to become the third-largest economy by 2030, focusing on manufacturing growth, resilience in global trade, and AI-driven productivity. India's geopolitical strategies and sustainability efforts at Davos underscore its ambitions in clean energy, electronics, semiconductors, and AI, bolstering its global economic position.

India is poised to become the world's third-largest economy by 2030, driven by strategic investments in manufacturing and resilience, as per BCG India Head Rahul Jain at the World Economic Forum in Davos. Jain indicated that India's trajectory is supported by expansion in sectors like electronics, automotive, and renewable energy.

Jain emphasized the increasing role of geopolitics in trade, where Indian businesses focus on resilience over efficiency, adopting 'just-in-case' supply chains. With strong domestic growth, India maintains a balanced trade model, combining 'Make in India for India' and 'Make in India for the World,' enhancing its global economic stature.

Artificial intelligence and sustainability are slated as key drivers of India's long-term growth. India is leveraging AI to boost productivity across various sectors while embedding sustainability in its economic model. With solid goals for emissions reduction and investments in sunrise sectors, India turns climate ambition into industrial opportunity.

(With inputs from agencies.)