To become a developed country by 2047, India must expand at an annual rate of 8–9% for the following 20 years. The ‘China plus one’ strategy can be advantageous for India because no other nation can provide the scope and size of operations that are possible here. After China, Japan, the United States, and Germany, India currently has the fifth-largest economy in the world. By 2031, the economy of India is expected to have doubled to USD 6.7 trillion from USD 3.4 trillion.
India can explore for chances in the agricultural and space industries as well as other emerging industries like semiconductors and electric vehicles. In addition, he claimed that the nation is developing highways at a ‘frantic pace’ of 16,000–18,000 kilometers annually, which fosters growth and trade.
While there are other nations that will gain when businesses choose to relocate their manufacturing to locations other than China, no other nation has the reach and size of India. The import of crude oil is India’s biggest problem. Similar to how technology has changed the nation, artificial intelligence (AI) has biases and has the potential to be divisive.