According to World Economic Forum (WEF) President Borge Brende, India is expected to clock the highest growth among the world’s big economies this year and the country’s economy is witnessing the “famous snowball effect” that will lead to more investments and more jobs.
Key points
- India is one of the fastest growing key economies in the world and WEF has had close collaborations with the country for the past many years.
- According to the snowball effect, when a small snowball travels down a snow-covered slope, it gets bigger by gathering more snow around its core.
- The same phenomenon is happening with the Indian economy.
- There have been reforms that have led to less red tape, better climate for investments and also the digital revolution is really happening in India.
- Geneva-headquartered WEF is an international organisation for public private cooperation, and is known for its annual Davos meeting, often described as the biggest congregation of the global elite.
