ADVERTISEMENT
Prime Minister Narendra Modi is delivering strong economic momentum for India, said Martin Sorrell, Chairman of S4Capital, praising the country’s growth trajectory at the World Economic Forum in Davos.
“Modi is on fire,” Sorrell told Moneycontrol on January 19, pointing to India’s robust performance at a time when most major economies are slowing.
Comparing global growth trends, Sorrell noted that the US economy is expected to expand by around 2.6 to 2.8 percent this year, while global growth is likely to remain just under 3 percent. China is forecast to grow at about 5 percent. India, however, stands out.
“India will grow by a stellar six percent,” he said. “That puts it right up there among the strongest performing major economies.”
Sorrell described India as a bright spot in an otherwise uncertain global environment.
“India can be a pocket of growth,” he said. “As you look around the world, India would be right up there as the fifth largest economy. India is a beacon of growth. For companies, particularly in an Asian context, India provides a tremendous alternative.”
He also highlighted the growing influence of Indian business leaders on the global stage.
“Indian entrepreneurs have got a big presence in Davos this year. They are superb and they are growing their position around the world. Whether it is Ambani, Mahindra or Mittal, they have done an extraordinary job not just in an Indian context but now increasingly abroad,” Sorrell said.
On Modi’s handling of relations with the United States and former president Donald Trump, the advertising veteran was equally complimentary.
“He has done a super job,” Sorrell said. “I think he understands brands. He would be a great proponent for our industry. There were some concerns about the positions he is taking among some people, but I disagree. I think he is taking the right position, playing both ends.”
Sorrell has previously described Modi as the ultimate master of branding and credited him with positioning India effectively on the world stage.
The S4Capital chief’s comments underline the continued optimism around India’s economic prospects, even as businesses globally grapple with geopolitical tensions and slowing growth.