Stockholm economist Erik Berglof sees India reaching 8% growth
India has a real shot at reaching 8% economic growth, says Erik Berglof, center director, House of Governance and Public Policy, Stockholm School of Economics.
Speaking at the Kautilya Economic Conclave, he pointed out that India's strong fundamentals and ability to adapt put it in a good spot, even with global trade issues and climate challenges.
Plus, AI is expected to shake up job markets across many industries.
Berglof urges mixed growth and openness
Berglof suggested India shouldn't just copy China's manufacturing-heavy approach. Instead, he recommends mixing things up, growing services, manufacturing, and agriculture together.
He highlighted India's progress in renewable energy as evidence of this balanced path.
To keep moving up and avoid getting stuck in the middle-income trap, he says innovation and productivity will be key.
Also, Berglof warned against closing off trade due to global tensions; staying connected with Asian and Global South economies, especially on green tech, will help keep India's economy resilient for the long run.