India Receives Support from Dario, Musk, and Others in its Quest to Become the Third Largest Economy
News from the Financial Associated Press, June 25 (edited by Huang Junzhi) – Bridgewater Fund founder and billionaire investor Ray Dalio recently expressed his belief that India will be the next big investment opportunity, comparing its economic transition to that of the 1980s.
Indian Prime Minister Narendra Modi made a significant statement during his visit to the US Congress on June 22. He stated, “When I visited the United States for the first time as Prime Minister, India was the tenth largest economy in the world. Today, India is the fifth largest economy. We will soon be the third largest economy.”
Dalio emphasized that the current geopolitical conflict will further strengthen India’s position as the world’s fifth largest economy, stating, “The time of Prime Minister Modi has come, and the time of India has come.”
Not only Prime Minister Modi and Dalio, but many authoritative figures and institutions worldwide share similar views. The International Monetary Fund (IMF) highlighted in its latest “World Economic Outlook” that India’s economic growth rate will decrease from 6.7% in 2022 to 6.1% in 2023, but rebound to 6.8% in 2024.
According to research conducted by the Reserve Bank of India (RBI), with the current growth rate exceeding 6%, India is expected to surpass Germany in 2025 or 2026 and Japan in 2027, becoming the world’s third largest economy.
This week, Tesla CEO Elon Musk revealed that he had a “very good” conversation with Prime Minister Narendra Modi in New York. Musk stated that the company aims to enter India “as soon as possible.” Sources indicate that Tesla has detailed plans for development in India, including the manufacturing of electric vehicles.
Furthermore, Mark Mobius, a renowned investor known as the “godfather of emerging markets,” expressed optimism about investing in India this week. India’s GDP growth last year was strong, reaching 7.2%.
With the support of influential figures like Dario, Musk, and Mobius, India’s ambition to become the world’s third largest economy seems increasingly attainable. As the country continues to make strides in economic growth and attract global investments, it is poised to solidify its position on the global stage.
How is Prime Minister Modi’s visit to the United States helping India attract support and investment for its economic goals?
Uring his recent visit to the United States, receiving support from powerful figures such as Elon Musk, CEO of Tesla, and Dario Sredni, CEO of Isales Solutions.
Dalio, who has expressed optimism about India’s economic prospects in the past, emphasized the country’s potential due to its young population and favorable demographics. He believes that India has the potential to become the world’s third-largest economy in the next decade.
Meanwhile, Prime Minister Modi met with Elon Musk and Dario Sredni during his visit to the United States, where they expressed their support for India’s economic growth and development. Musk, known for his visionary approach to technology and innovation, expressed his interest in investing in India’s renewable energy sector.
Similarly, Sredni, whose company specializes in sales solutions, lauded India’s efforts to digitize its economy and expressed his interest in partnering with Indian companies to drive further digitalization.
Prime Minister Modi’s visit to the United States aimed to garner support and investment for India’s ambitious economic goals, including the “Make in India” initiative and various infrastructure projects. The meetings with prominent figures like Musk and Sredni highlight the international recognition of India’s growth potential.
India has been actively promoting its economic reforms and attracting foreign investment through policies aimed at ease of doing business and reducing bureaucratic hurdles. The country’s focus on renewable energy, digitalization, and infrastructure development has also attracted global attention and support.
With the backing of influential figures like Dalio, Musk, and Sredni, India is well-positioned to accelerate its economic growth and achieve its goal of becoming the third largest economy in the world.
