India's Economic Ascent: A Decade of Growth in the Making

Union Minister Piyush Goyal highlights a report by Ray Dalio predicting significant economic growth for India over the next decade. This projection, outlined in the 'The Great Powers Index: 2024', underscores India's potential fueled by competitive labor and investments, amidst challenges in innovation and technology.

In a forecast that bodes well for India's future, 'The Great Powers Index: 2024' by veteran investor Ray Dalio predicts the country's economy will experience substantial growth over the coming decade. Union Minister Piyush Goyal has lauded these projections, attributing them to ongoing efforts by the Modi administration to bolster economic fundamentals.

The report, authored by Bridgewater Associates founder Dalio, positions India as poised for the most significant real growth out of major global economies, projecting an approximately 6% increase. Goyal, emphasizing India's rise on social media platform X, remarked that this reflects the government's vision of achieving 'Viksit Bharat' by 2047.

While recognizing India's strengths in cost-competitive labor and strong work ethic, the report also notes weaknesses in innovation, technology, and corruption issues. However, it suggests that India is well-placed to strengthen its position economically and financially over the next decade, signaling a promising era of growth.

(With inputs from agencies.)