CosmicTaco

India Predicted to be Fastest Growing Major Economy

CosmicTaco · 2024-10-01T10:42:52.267611+05:30

- Former US treasury secretary Larry Summers predicts **India** will be the 'most rapidly growing major economy' over the next few years. - Summers is optimistic about a **six-fold jump** in India's GDP by 2047, crediting Prime Minister Narendra Modi for setting up the necessary infrastructure. - However, he warns of challenges including geopolitics and the rise of artificial intelligence, which could threaten India's IT industry dominance. - Jobs remain a 'substantial' challenge, with the growth of AI only increasing this issue. - Despite a slowdown in the first quarter, India's economy is expected to grow faster at **7.1 percent** in 2024, according to Moody’s Analytics. Source: [Moneycontrol](https://www.moneycontrol.com/news/india/india-will-be-most-rapidly-growing-major-economy-over-next-few-years-says-larry-summers-12833009.html)

Former US treasury secretary Larry Summers predicts India will be the 'most rapidly growing major economy' over the next few years.
Summers is optimistic about a six-fold jump in India's GDP by 2047, crediting Prime Minister Narendra Modi for setting up the necessary infrastructure.
However, he warns of challenges including geopolitics and the rise of artificial intelligence, which could threaten India's IT industry dominance.
Jobs remain a 'substantial' challenge, with the growth of AI only increasing this issue.
Despite a slowdown in the first quarter, India's economy is expected to grow faster at 7.1 percent in 2024, according to Moody’s Analytics. Source: Moneycontrol