India will be second-largest economy by 2050: Gautam Adani debunks GDP rhetoric
India TV NewsBillionaire Gautam Adani has debunked the narrow fixation on GDP numbers, saying fundamentals are intact and India will be the second-largest economy by 2050 and has an edge over global peers in terms of business opportunities. "I will state without any hesitation – that – in my view - over the next three decades, India is the world's greatest business opportunity," he said. Projecting for another 30 years, in 2050 the global GDP is expected to be about USD 170 trillion with India becoming the second-largest economy in the world," he said. Speaking of challenges holding back India, Adani said that India needs USD 1.5 to 2 trillion of capital over the next decade but despite key structural reforms such as the National Investment and Infrastructure Fund and Credit Enhancement Fund, capital structure challenges, and lack of empowered and independent regulators remain bottlenecks to nation-building and investment opportunities.