By Admin 
David Rubenstein, co-founder of America’s largest private equity company Carlyle Group, has said that India is growing rapidly and can become the world’s largest economy in the next two-three decades. He said this in an interview at the World Economic Forum (WEF) going on in Davos.
Rubenstein said, ‘I think that India can become the largest economy in the world during our lifetime. I would say that maybe this can happen in 20-30 years.
What is the current situation in India?
India is currently the fourth largest economy in the world. It is the fastest growing economy in the world. India may soon leave Germany behind and reach the third position. Currently, America is the largest economy, followed by China at second place. With India’s rapid progress it will leave both America and China behind. He also pointed out the advantage of India’s young population, which will help a lot in the long run.
What advice did Rubenstein give to India?
He asked Indian policy makers not to treat global private credit and private equity (PE) as Western investments. Private equity means that companies invest money in such firms which are not yet listed in the stock market. Private credit means that companies give loans directly and not through banks. Rubenstein said, ‘If these markets are allowed to grow, then Indian entrepreneurs with good capital will come to India and many people will stay and work in India.’ This group has invested more than $ 8 billion in companies in various sectors of India.
What did you say on America-India relations?
Rubenstein said that there is no concern about the relations between America and India. He said, ‘President Trump has generally been very positive about America’s relations with India. He has sent one of his very close associates as ambassador.
Strong relationship between Trump and Jinping
Rubenstein said that the purpose of Trump’s China policy was not to harm China, but to correct the trade imbalance. China has increased its annual surplus to more than one trillion dollars by selling more in other markets. But for Trump, China is not as big an issue as the Russia-Ukraine issue. He said that Trump feels that he and Xi Jinping have a good relationship and they will meet at least twice this year. Maybe some agreement can also be reached.