‘India, US and China will lead the New World Order’: President of World Economic Forum predicts the emergence of India as a global super power

The President of the World Economic Forum, Borge Brende on Saturday said that India, US and China will lead the new world order in the coming years. Brende highlighted that India’s economy is on track to become the third largest globally, and it could possibly usher in a new era of global leadership.

During an Interactive session with Rahul Kanwal, News director at India Today/ Aaj Tak at BT at India 100 Summit in New Delhi, he discussed various facets of India’s emergence on the global stage. The dialogue covered India’s economic growth trajectory, its role in shaping the new world order, leadership dynamics, artificial intelligence (AI) regulation, and the evolving global trade landscape.

Brende began by acknowledging India’s resilience during the pandemic, hailing it as the fastest-growing major economy for the third consecutive year. He lauded India’s digital transformation, attributing its success to the widespread adoption of digital IDs, which have connected the majority of Indians. He noted that the demographic dividend, coupled with digital connectivity, could position India for sustained growth for the next few decades.

Commenting on India’s presidency of the G20, Brende emphasised Prime Minister Modi’s vision to establish a new global order with increased influence for the global South. He introduced the concept of a “G3” – a powerful trio consisting of the United States, China, and India. 

Addressing concerns about AI and job displacement, Brende stressed that technological advancements would lead to more sophisticated job roles, ultimately driving prosperity. He underscored the importance of up-skilling and re-skilling to bridge the skills gap.

On the topic of global trade tensions, Brende urged against decoupling and advocated for continued international cooperation. He warned that excessive protectionism and trade barriers could lead to substantial reductions in global GDP.

Brende also touched on the ongoing Russia-Ukraine conflict, expressing hope for a peaceful resolution to mitigate its negative impact on global energy prices and food costs.

Lastly, Brende hilariously discussed the regulation of AI, comparing it to traffic rules in a city, which if left in open could have a chaotic impact. He called for international cooperation to establish common guidelines for the responsible development and deployment of AI technologies.

Borge Brende’s insights shed light on the World Economic Forum’s perspective on India’s economic and geopolitical trajectory. The concept of a G3, his optimism about India’s growth, and his emphasis on up-skilling aligned with discussions about India’s global role and development strategies. His views on AI and global trade dynamics provide valuable context for India’s policies in these areas.

Watch the Full Interview:

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