India set to outpace China and US in economic growth, says USISPF Chairman John Chambers

India to achieve nearly 100% higher GDP per capita income growth compared to China & 33% more than the US

October 14, 2024

Modi administration did a remarkable job setting the stage for a decade of growth: USISPF Chairman

John Chambers, Chairman of the US-India Strategic Partnership Forum (USISPF), expressed confidence on Monday that India is poised to surpass both China and the United States in key economic metrics.

Speaking at the Annual India Leadership Summit 2024, Chambers projected that India will achieve nearly 100% higher GDP per capita income growth compared to China and 33% more than the US in the near future.

Chambers highlighted India’s rapid economic progress under Prime Minister Narendra Modi’s leadership, stating, “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.”

He elaborated, “India will be nearly 100% 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% larger than the US.”

Reflecting on his long-standing association with Prime Minister Modi, the former CEO of Cisco Systems noted how he recognized Modi’s vision early in his tenure. “When Prime Minister Modi came into office, I had the opportunity to hear his vision for India. I immediately recognized that he was laying the foundation for India’s future,” Chambers remarked.

He praised the Modi administration’s efforts in its first five years, stating, “They did a remarkable job setting the stage for a decade of growth, positioning India as the fastest-growing economy in the world.”

Chambers emphasized, “This is India’s century,” and stressed the importance of collaboration between India and the US. He predicted that a strong US-India partnership could potentially accelerate India’s GDP growth by 2% annually while contributing to a 1% increase in US GDP growth.

The USISPF summit comes on the heels of Prime Minister Modi’s successful visit to the United States, where he participated in the Sixth Quad Leaders’ Summit and addressed the United Nations General Assembly. The summit aims to strengthen bilateral trade, boost supply chains, and foster collaboration in key areas such as semiconductor investment, artificial intelligence, and next-generation technologies.

Additionally, the event focuses on enhancing defense ties, promoting clean energy initiatives, and ensuring a free and open Indo-Pacific, all while deepening the dynamic strategic partnership between Washington and New Delhi.

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