INDIA WILL ONCE again serve as the bellwether for global growth in 2024. With the IMF projecting India’s GDP growth to sustain at 6.3%, even as the world grapples with a slowdown at 2.9%, the country’s business narrative is a contrast to the recession clouds hovering over Europe and other regions.
This optimism is palpable in the actions of both domestic and foreign investors. In 2023, India witnessed a record $2 billion of monthly SIP inflows, coupled with foreign investors infusing $20 billion into Indian equities and turning net buyers of Indian debt for the first time in four years. When I speak with investors abroad, it is evident that participating in India’s growth story has transformed from a ‘nice-to- have’ to a ‘must-have’.
SoftBank has been investing in Indian start-ups since 2013 and we have seen first-hand the country’s transformation driven by infrastructure investments, India Stack, stable governance and a maturing tech ecosystem. Investors who put their faith in the India story have benefitted with handsome returns across multiple deals.
INDIA CURRENTLY HAS 23 IITS AND 31 NITS. IT WOULD BE IN INDIA'S INTERESTS TO FOCUS ON INCREASING THE NUMBER OF HIGH-QUALITY UNIVERSITIES
Looking forward to the next decade, there are ample reasons to be enthusiastic about India’s potential as an economic and cultural superpower. While India is making rapid strides on all fronts, we are particularly excited about three themes that should have a multiplier effect on the Indian growth story.
Establishing more Tier I universities
This story is from the February 18, 2024 edition of Business Today India.
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This story is from the February 18, 2024 edition of Business Today India.
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