BHUBANESWAR: Amidst an economic slowdown, Deputy Chairman of Planning Commission Montek Singh Ahluwalia on Friday exuded confidence that India could emerge as the third largest economy, in terms of GDP, by 2030.In the next 20 years, the world will see a shake-up in economic powers. From industrially developed countries in the West, the shift will be towards Asia. “By 2030, China will be the number one followed by the USA with India in the third position having a GDP growth rate of nine per cent,” Ahluwalia said delivering the 7th Annual convocation of KIIT University here.The shift in economic powers will be first towards Asia and within Asia towards China and India, Ahluwalia said adding, there is no point worrying about short-term slowdown that newspapers are talking about. There are strong chances that India will maintain a growth rate of eight to nine percent during the next 20 years. “It would be wrong to say that India’s growth story has come to an end, he said adding, this year has been slower in terms of growth but it is true for other countries too.He told students that while it took 45 years to double the per capita income during his time, it could be achieved in just nine years in the current period. “In contrast to slower growth of the last 45 years, the last nine years have seen tremendous growth in the economy. In addition to the structural changes, technology is also changing much faster. The transmission of the technology is even faster,” Ahluwalia explained. He urged the students to remain prepared for fast-paced technological changes.On the occasion, the KIIT University conferred Honorary Degrees on Tripura Governor Dr DY Patil, Rajya Sabha Member Ram Jethmalani, Chairman Scientific Advisory Council to Prime Minister Prof CNR Rao, MD of Tata Steel HM Nerurkar, Member of Planning Commission Dr Narendra Jadhav and Senior Advocate of Supreme Court Pinky Anand.Chancellor Prof RP Kaushik, Vice Chancellor Prof AS Kolaskar and founder of KIIT Achyuta Samanta were also present.
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