A Harvard professor has shared his optimistic outlook for India’s future, highlighting Prime Minister Narendra Modi’s remarkable achievements. On China, he commented, “China’s economic issues stem from its suppression of consumption. While the US allocates about 70% of its GDP to household consumption—remaining close to 50% even during World War II—China’s consumption sits below 40%. This means vast resources have to be directed elsewhere, often towards infrastructure. However, after building more infrastructure in five years than the US did throughout the 20th century, China is now facing diminishing returns in this area.”
Regarding India’s growth, the professor expressed high hopes. “I’m very optimistic about India’s ability to increase its GDP six-fold by its centenary of independence. India is poised to be the fastest-growing major economy over the next five years, decade, and generation.”
He praised PM Modi’s leadership, stating, “Prime Minister Modi has been extraordinarily successful in energizing the country. He has driven progress in physical infrastructure, introduced transformative initiatives, and advanced digital payments and personal identification systems. I hope in the coming years, reforms will continue to encourage market forces, allowing India’s potential to be fully realized.”
