India, one of the most significant Asian economic giants of current times, has greatly increased its role in the global economy in the past two decades. It represents almost one-fifth of the world population. Its contributions to global GDP and international trade have been steadily increasing. The fast rising middle-class and the rapid growth of transnational corporations (TNCs) in the country have become an important source of the rapid expansion of the economy, by employment and income generation on one hand and stimulating demand for goods and services on the other. India’s economy is the 4th largest in the world, behind the US, China and Japan. According to Goldman Sachs, India is expected to continue to grow at a much faster pace than the advanced OECD economies, over the next 20 to 25 years. While ageing population and the resultant demand growth slowdown, large government and household debt levels and weak trend in productivity growth are all expected to constrain economic growth in Europe and North America; the relatively favourable demographics, accumulation of physical and human capital, increased innovation and economic specialization will increase opportunities for strong economic growth in India. As a result, India is expected to be the number two in the world economy, behind China, by 2030.
This conference aims at deliberating on the opportunities and challenges in India’s emergence as an economic super – power. It will provide an opportunity to academicians and corporates to debate and discuss, through research findings, the strategies to address these challenges; cultivate and sustain growth in the future through exploring undiscovered avenues that would propel India’s growth as an economic super power.