Mumbai, January 16: At the World Economic Forum (WEF) 2024, global leaders expressed optimism about India's growth trajectory, with S4 Capital's Executive Chairman, Martin Sorrell, betting on Prime Minister Narendra Modi's re-election in the upcoming 2024 general election. Despite global uncertainties, Sorrell remains bullish on India, lauding Modi's adeptness in branding and positioning the nation on the global stage.

According to a report by Money Control.com, Sorrell emphasised PM Modi's prowess in economic stewardship, citing India's impressive Gross Domestic Product (GDP) growth projections, which outshine those of many other nations. Against the backdrop of geopolitical tensions involving major powers, India emerged as a pivotal market and a credible alternative to China in Asia. Sorrell predicts that India will claim the position of the world's third-largest economy by 2025, underscoring its robust growth potential. GPAI Summit 2023: PM Narendra Modi Highlights Dual Nature of Artificial Intelligence, Says 'AI Can Be 21st Century's Greatest Tool or Greatest Threat' (Watch Video).

As per the report, Sorrell identified India as a focal point for global attention, asserting that the country's prominence will only intensify. He envisioned a transformative shift in global economic power dynamics, with three out of the top five countries being in Asia by 2050 and India securing the third spot. While acknowledging the significance of traditional players like Japan, Sorrell highlighted the rising influence of countries such as Indonesia, Vietnam, Thailand, and Malaysia, collectively forming what he terms the "new Asia." PM Narendra Modi Is an Amazing Man, His Energy and Vision Inspire Us, Says DP World CEO Sultan Ahmed Bin Sulayem (Watch Video).

On the technological frontier, Sorrell discussed the transformative impact of artificial intelligence (AI), recognising its vast potential, particularly in the field of advertising. However, he raises concerns about the misuse of AI in the context of elections, emphasising the need for self-regulation among tech giants. Sorrell contends that major players like Alphabet, Meta, Alibaba, Amazon, Tencent, and ByteDance, which played a significant role in the USD 650 billion digital marketing sector last year, must take responsibility and collaborate with regulators for effective self-regulation.

(The above story first appeared on LatestLY on Jan 16, 2024 08:09 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).