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India will become the world's largest economy in the coming decades if it continues to invest in education, infrastructure and climate safety, renowned economist Professor Jeffrey D. Sachs said, expressing confidence in the country's long-term growth prospects.
In an interaction, Sachs said India's share of global economic output currently stood at around 8-9 per cent and would continue to rise over the coming decades, provided the country follows sound economic and development principles. "India's share of the world output will continue to rise now for decades to come. India will become the world's largest economy if it follows the correct principles of making sure that all young people have a good education, there's good infrastructure, and there's climate safety and many other sound principles," he said. He added that India's emergence as the world's largest economy would be driven in part by its large population, and would also have positive implications for the global economy. Sachs clarified that becoming the largest economy would not necessarily mean India would dominate the world or have higher per capita income than other countries. However, its economic scale would give it a significant role in international affairs. Commenting on the changing global order, Sachs said the era of Western dominance had ended, but the world was yet to develop a shared understanding of the emerging multipolar system. He argued that major powers, including the United States, India, China and Russia, should pursue cooperation rather than form alliances against one another. "Global harmony means that we are having mutual respect. We are not making alliances. I don't believe in alliances. I believe in cooperation," he said, calling for countries to follow common principles and the UN Charter. Sachs also criticised US President Donald Trump's policies, saying wars, conflicts and tariffs had destabilised the global economy. He said the United States should recognise the changing distribution of global power and act responsibly. On artificial intelligence, Sachs said the technology could be used either to create or destroy, depending on how it was governed. He cautioned against its increasing integration with military institutions and advocated its use for the common good. He also called for India to become a permanent member of the UN Security Council, saying its inclusion would help strengthen the global institution. (ANI)
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