homeworld NewsBCG's Neeraj Aggarwal says India will benefit from geopolitical shifts, tech power, and demographics
BCG's Neeraj Aggarwal says India will benefit from geopolitical shifts, tech power, and demographics
Aggarwal also emphasized the importance of maintaining ties with China. He argues against decoupling, stating that it would lead to rampant inflation and pose challenges in solving global issues such as climate change, as China possesses exceptional companies in these domains.
In a rapidly evolving global landscape, Neeraj Aggarwal, Chair of Asia Pacific at BCG, shares his insights on the current geopolitical dynamics and the transformative forces shaping the future. According to Aggarwal, India finds itself in a favourable position, benefitting from three key macro trends that are steering its trajectory.
The first trend, as described by Aggarwal, is the emergence of a "world of G0," where old geopolitical relationships are being redefined. While existing friendships endure, new alliances are forming, and India stands to gain from this shift.
The second trend, dubbed T3, envisions a future where the technological world is dominated by three superpowers – the United States, China, and India. Aggarwal foresees these nations playing pivotal roles in shaping the technologies of tomorrow. The third trend highlighted by Aggarwal is India's demographic dividend, emphasizing the country's youthful population as a valuable asset for economic growth.
Aggarwal also emphasized the importance of maintaining ties with China. He argues against decoupling, stating that it would lead to rampant inflation and pose challenges in solving global issues such as climate change, as China possesses exceptional companies in these domains.
Despite facing challenges like a real estate and property crisis and decreased consumer confidence, Aggarwal believes that China's resilience, driven by remarkable entrepreneurs and successful companies, will position it stronger in the future.
“I think there was an extreme sentiment on China last year. I think we need China, decoupling is not good for the world in general. I think inflation will run rampant, climate will be a difficult problem to solve because in many places China has incredible companies. So I don’t think decoupling from China is right for the world.
In China the challenge is the real estate and the property crisis, their consumer confidence is down. However, what China has working for it is it has some incredible entrepreneurs and some great companies. So I feel the China of tomorrow will actually look stronger than what we are seeing today,” Aggarwal stated in an interview with CNBC-TV18.
He also sheds light on the major topic dominating discussions at Davos 2024- generative artificial intelligence or Gen-AI. Comparing it to the Industrial Revolution, Aggarwal highlights the uncertainty surrounding the power unleashed by Gen-AI and the critical need for responsible AI.
The Gen-AI revolution, according to Aggarwal, has the potential to reshape various sectors, particularly healthcare. He envisions AI playing a crucial role in shaping the healthcare of tomorrow, addressing longstanding challenges in diseases like cancer and diabetes. The power of AI lies in its ability to solve problems previously deemed unsolvable, offering promising outcomes in healthcare, he added.
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