Nuhey News

We talk about the MARKET

India is experiencing a “snowball effect” and will experience exponential growth in the future years. Borge Brende, President of WEF

Borge Brende, the president of the World Economic Forum (WEF), said India is witnessing a ‘snowball effect’ and will see an exponential growth in the coming years. Speaking at the third edition of NITI Aayog’s Transformative Mobility Solutions Conclave, Brende said the trends show that economy, technology and mobility solutions are converging for the betterment and sustainability of humanity.

He added that the WEF has been working closely with India to accelerate mobility solutions. He said the mobility solutions are part of five WEF Megatrends — autonomous vehicles, electric mobility, micromobility, ride-sharing and connected vehicles. With the introduction of technology, India is on the crest of the wave, and the economy will see an exponential growth in the near future, Brende added.

He said the enormous potential for electric vehicles will be beneficial for India’s economy. With the government pushing hard, Brende said that India will become the next hub of electric vehicles. The government’s focus on gig economy will boost the ride-sharing culture, which will offer an integrated, user-friendly, data-driven and predictive mobile experience. This will help curb road congestion and