India's growth and economic outlook were in focus at the World Economic Forum (WEF) in Davos. Union ministers as well as business leaders discussed reforms, investment opportunities and the country's growth path at the 2026 Annual Meeting in Davos.
Ashwini Vaishnaw On India's Growth
Union Minister Ashwini Vaishnaw emphasised that India's reform momentum was on track. Speaking at the WEF 2026, Vaishnaw highlighted reforms, such as labour codes, GST simplification, energy sector changes and private participation in nuclear energy. These have boosted investor confidence.
On India's macroeconomic fundamentals, Vaishnaw said that the country is currently the fastest-growing major economy in the world, with a steady growth trajectory of 6% to 8% projected over the next five years.
Vaishnaw outlined India's strengthening domestic capabilities amid global uncertainty. India is building semiconductors, AI platforms, defence manufacturing and shifting IT from software to AI solutions, he said, adding that these steps boost economic resilience and global competitiveness.
Gita Gopinath On India's Economic Risks And Opportunities
According to Harvard professor and former IMF chief economist Gita Gopinath, India's growth could be impacted by both local issues, such as pollution and external factors like tariff wars and market corrections.
At the World Economic Forum in Davos, she told NDTV that India's growth trajectory might be derailed by external disturbances, notwithstanding the country's strong internal market.
Gopinath emphasised that geopolitical tensions and inflated asset values, particularly in US equities, might lead to market falls.
Despite US tariffs, India has been able to divert some exports, she claimed, but these strategies are limited.
On domestic objectives, Gopinath emphasised the need to create an atmosphere that is conducive to investment, while addressing challenges like pollution. “The impact of pollution on India's economy is far more consequential than tariffs,” she said, citing both economic costs and loss of lives.
She also welcomed progress on the EU‑India trade deal, saying that such partnerships can help India navigate a complex global market.
Sunil Mittal On India's Path To A $30-Trillion Economy
Bharti Enterprises founder and chairman Sunil Bharti Mittal said India is set to become the world's third-largest economy, but must aim higher to reach a $30-trillion economy. Speaking at the World Economic Forum in Davos, he said, “Six or seven trillion dollars for a population of over 1.5 billion does not add up. To truly arrive, we must scale to 25 or 30 trillion dollars. The timing may vary, but the destination is clear.” Mittal stressed the importance of trade partnerships, policy stability and technology-led growth.
On trade agreements, Mittal said deals with the UK, Australia, New Zealand and the UAE are done. The EU and US remain key priorities. He added that shifting global trade norms, including reshoring, require agility and strategic alignment.
He emphasised that India's advantage lies in its scale, young population and growing role as a global producer. “By scaling technology, production, digital infrastructure, energy, and physical assets, India is building resilience and momentum,” he said.
Mittal highlighted India's AI potential through innovation. “We can build powerful AI models without trillion-dollar investments,” he said. He also praised the PLI scheme for boosting electronics and telecom manufacturing, which are now driving exports.
“With the energy I see across India and Europe, I am confident India can sustain 6% to 8% growth. Our future is strong, and disciplined execution will define how fast we get there,” he added.
States Showcase Investment Opportunities And Policies
Several Union ministers, Chief Ministers and leaders from 10 states came together at the World Economic Forum in Davos on Jan. 19 to highlight India's growth and investment potential.
- Andhra Pradesh Chief Minister N Chandrababu Naidu said that India is already the world's fourth-largest economy, aiming to become third in 2-3 years and the second-largest by 2048.
- Assam Chief Minister Himanta Biswa Sarma said that his state is thriving under the Narendra Modi government's Act East and other policies, making Assam the fastest-growing state economy.
- Jharkhand Chief Minister Hemant Soren urged all states to work together to make India a developed nation by 2047.
- Union Minister Pralhad Joshi highlighted India's resilience, saying that the country accelerated while the world slowed down.
- Civil Aviation Minister K Rammohan Naidu pointed out that India has become the third-largest domestic aviation market due to government initiatives to democratise air travel.
- Gujarat Deputy Chief Minister Harsh Shanghavi and Telangana Minister D. Shridhar Babu expressed admiration for India's unified presence and showcased their states' investment policies.
- Kerala minister P Rajeev reflected on his previous visit, noting that initial expressions of investment interest have now translated into real deals. The state is now focusing on 24 priority sectors to attract further growth.
- Uttar Pradesh Finance Minister Suresh Khanna highlighted his state's strong performance across multiple economic segments.
- According to Karnataka Minister MB Patil, India's scale of representation in Davos sends a clear message that the country is not only participating in global growth but driving it.
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