India Economic Summit 2016

With a strong demographic dividend, a growing entrepreneurial ecosystem and a large domestic market, the time is right for India?s economy to soar. The world is expecting India to translate its potential into action. If the economic liberalization of 1991 was a watershed moment for India, 25 years later India again stands on the threshold of another historic moment. The World Bank and the International Monetary Fund both project a robust 7.5% growth for the country in 2016 and 2017. Yet, India also faces challenges, including shrinking exports, an infrastructure deficit, barriers to business and stalled reforms. If the pace of reform fails to pick up and improvement in the ease of doing business proves too slow, companies may look elsewhere. As the government ensures that the benefits of the previous industrial revolutions reach all Indians, it should also prepare itself for the Fourth Industrial Revolution ? a technological revolution that is changing the scale, scope and complexity of the opportunities and challenges that we face. India?s leadership in innovating with technology continues to improve the country?s economic prosperity, civic participation and digital governance ? engaging with its citizens, updating them on policies, resolving issues and connecting with them through live conversations. This is an important inflection point for India, where it can ensure that its economic growth is more broad-based and socially inclusive, and also lead from the front on the Fourth Industrial Revolution to benefit its people and communities. With the possibility of India taking over the G20 presidency in 2018, progress made now will define the country?s G20 leadership. The 2016 India Economic Summit will explore some of these issues while engaging the global multistakeholder community of the World Economic Forum for action and impact.