India, a young economy with lot of potential, has demonstrated remarkable strength and resilience amid global slowdown, a top official of World Economic Forum (WEF) said on Wednesday. Besides, the country can play a crucial role in the development of South Asia and sustainability of global economic growth, WEF President Borge Brende told PTI here.
The WEF, which organizes the India Economic Summit in partnership with the Confederation of Indian Industry (CII), engages the foremost political, business and other leaders of society to shape global, regional and industry agendas. “India is one of the fastest growing large economies in the world. The country is also a young economy with lot of potential and has shown lot of strength and resilience amid an economic slowdown globally,” Brende said.
The rise of advanced technologies has the potential to create economic and social value and it can boost the country’s goal of maintaining its growth momentum while attaining greater social inclusion and regional cooperation, he added. He further said that India is very advanced from many developed economies when it comes to information technology sector, but there is a lot of scope for development in terms of infrastructure.
The Geneva-headquartered entity is organizing its 33rd India Economic Summit in New Delhi on October 3-4 under the theme — ‘Innovating for India: Strengthening South Asia, Impacting the World’. More than 800 leaders from 40 countries comprising senior public figures and leading representatives from civil society, arts and culture, science, business and academia will participant in the event.