India to become No.1 economy globally, predicts John Chambers

Washington: John Chambers, Chairman Emeritus and former CEO of multinational digital communications major Cisco Systems, has made four predictions about the trends that will shape the business, economic, and technology landscape in 2024.

Chambers in a post on X listed his predictions for 2024, which according to him is ‘The Year of Speed, Scale of Change and AI Adoption’, he says that the United States and India will become the most strategic partnership in the world, driving global innovation and job creation at an accelerating pace.

He outlined four key trends for 2024 — the “decade of AI” will usher in mainstream adoption; increased cybersecurity challenges; US-India partnership becoming pivotal, driving global innovation; economic shifts such as a potential IPO rebound, cautious optimism, and the decline of startup decacorns. Geopolitical uncertainties remain a wildcard, emphasizing a nuanced outlook for the coming year, according to him.

Chambers, who is also the chairman of the US-India Strategic Partnership Forum chairman, has made a bullish prediction on India, saying it will continue to track towards becoming the number one economy in the world.

“India is poised to continue its trajectory towards becoming the world’s leading economy, a prediction made by former U.S. Speaker Kevin McCarthy alongside Prime Minister Narendra Modi in June. The strategic partnership between the US and India will burgeon into the most influential globally, propelling innovation and job creation at an accelerated pace. The driving force behind this growth will be initiatives such as Digital and AI India, coupled with India’s enthusiasm and openness to forging collaborative and strategic alliances with the US and other key global players, signaling a pivotal moment in India’s economic and geopolitical landscape,” he prophesied.

Chambers has been betting big on India in recent times. In an interview to Bloomberg earlier this year, Chambers had said he would love to see India become a ‘powerhouse of manufacturing’. “I don’t think you’ve seen anything yet. People ask me when I think India will move from number five to number three in global GDP. I say that’s the wrong question: The question is when India will become number one in world GDP. It is inevitable if they execute well. I would love to see India be a powerhouse of manufacturing because we’ve got an issue there now,” he had said.

‘AI will go mainstream’

Chambers said that artificial intelligence or AI, will be the most fundamental technological change ever.

“AI will go totally mainstream. I first said this was coming back in 2022, and we’ve definitely seen this start in 2023, but 2024 will take it even further – which will cement the shift from the Digital Age to the AI Age,” he said.

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