India to outpace China, US in economic growth: USISPF Chairman John Chambers

Emphasising that India could become a model for global growth, US-India Strategic Partnership Forum (USISPF) Chairman John Chambers on Monday predicted that the country will surpass China and the United States in key economic metrics, projecting nearly 100 per cent higher GDP per capita income growth compared to China and 33 per cent larger growth than the US in the near future.

Speaking at the Annual India Leadership Summit 2024 hosted by USISPF in New Delhi, Chambers lauded the rapid pace of India's economic progress under Prime Minister Narendra Modi's leadership.

"The pivotal moment was when President Biden and Prime Minister Modi met in Washington and declared that this is the most strategic partnership ever formed," Chambers said.

"India will be nearly 100 per cent bigger than China in terms of GDP per capita income growth. The standard of living and overall growth here will outpace any other country in the world during this period. In fact, India will be 33 per cent larger than the US," he added.

Reflecting on his decade-long association with Prime Minister Modi, the former Cisco Systems CEO recounted how he had realised early on that he would propel India to new heights.

"When Prime Minister Modi came into office, I had the opportunity to hear his vision for India. I immediately recognised that he was laying the foundation for India's future... I knew he would lead the nation for the next five years and execute an extraordinary transformation," Chambers said.

"For the first five years, I'd argue this administration did a remarkable job setting the stage for a decade of growth, positioning India as the fastest-growing economy in the world," he noted.

"This is India's century," Chambers emphasised, adding that by collaborating closely with the US, along with leaders from business, government, academia, and ordinary citizens, India could become a model for global growth.

He further predicted that through a robust US-India partnership, "We could potentially accelerate India's GDP growth by two per cent annually and increase US GDP growth by one per cent."

The USISPF summit comes on the heels of Prime Minister Modi's successful visit to the United States, where he attended the Sixth Quad Leaders' Summit in the US President's hometown and the United Nations General Assembly in New York.

The event seeks to strengthen bilateral trade, boost supply chains, and foster collaboration on semiconductor investment, artificial intelligence, and next-generation technologies.

The summit also aims to enhance defence ties, promote clean energy, and ensure a free and open Indo-Pacific besides deepening the dynamic strategic partnership between Washington and New Delhi.