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Summary.
India is in a global sweet spot. It is now the world’s most populous country — home to more than 1.4 billion people—and has had robust economic growth for the past three decades, with GDP per capita having risen by 245%. And yet, it remains relatively underdeveloped on a global scale. As of 2019, more than 600 million people in India live on less than $3.65/day. Thus there remains enormous potential for economic growth, and improvements in human welfare. And as the United States’ concerns about China grow, India shines as a promising alternative in supply chains, innovation hubs, and joint-ventures. As the world’s largest democracy with an increasingly open economy and a strong technology sector, it has the potential to operate at scale.