India is a Favourite Nation for Investments
India is a compelling investment destination amid the current global economic uncertainty, said Manny Maceda, worldwide managing partner, CEO and chairman of the board, Bain & Co. In an interview with Vinod Mahanta. Maceda talks about conducting business in a shifting landscape, the disruptive potential of generative AI for both businesses and the consulting industry. Edited excerpts:
The International Monetary Fund (IMF) has raised India’s GDP growth forecast to 6.3% for FY24, which is 40 basis points higher than its earlier forecast in April. Do you think the Indian economy will be able to maintain this growth when the wests is facing considerable economic challenges?
India has always been a great, unique opportunity. The combination of tailwinds for many other markets and arguably hurricane-force headwinds makes India compelling investment destination, especially during a period of global economy uncertainty. From a global economic perspective, a few major forces are at play. Firstly, decarbonisation has evolved into an energy transition movement. Secondly, the digital revolution, which has been ongoing for two decades, is now accompanied by generative AI, reshaping tech dynamics. Globalization, after 30+ years, is seeing significant shifts due to geopolitical events and de-risking. These three tends are converging during a period of costly capital.
It’s a time where all global companies and investors are revisiting where to invest, where to play, what? India comes out as a place that is a very attractive place to be. Also, India, with its thriving demographics and growing wealth, stands out.