MC Exclusive: Sunil Mittal bullish on India, says country on China-like growth path

Sunil Mittal was among the top speakers at the B20 Summit on Aug 25

India is on a growth path which is similar to what was seen in China 25 years back, said Sunil Bharti Mittal, Chairman of Bharti Enterprises, in an exclusive interview with Moneycontrol on the sidelines of B20 Summit India 2023 in New Delhi on August 25.

"India is on a growth path, which we saw in China 25 years back. We have strong tailwinds. I personally feel it," Mittal said.

Mittal added that India's story on digital is being talked about all over the world.

"I go around the globe. whether it's the US or European nations, but importantly Latin, Africa and many of the developing nations are truly remarkably inspiring for India's run," he said.

Mittal also noted that India is riding on the back of a digital wave in which a few players need to play a key role on the connectivity front.

Also Read | World sees optimism, confidence in Indian economy: PM Modi

Focus on Africa

Adopting Africa as a place to do agriculture can change the world and alter food ecosystems, Mittal said, as he drew attention to the ongoing global crisis in food production.

"Sixty per cent of world's arable and yet uncultivated land is in Africa. Today we have all seen the crisis that the world is going through on food production. Just adopt Africa as place to do agriculture, perhaps some value added agriculture...the entire world can change," he said, while speaking at the B20 Summit.

The telecom tycoon added that Africa's economic integration is gaining momentum, and expressed hope that the African Union will soon become a permanent member of G20.

Mittal asserted that the African voice in G20 is "absolutely important".

Earlier, Finance Minister Nirmala Sitharaman, while addressing the B20 Summit, said that the current government has been consistently carrying out reforms for the past nine years with stable results, while reforms carried by earlier governments were erratic.

She added that sustained global economic recovery will be a key issue for the next few years as the world economy recuperates from the aftermath of the COVID-19 pandemic and the Ukraine-Russia war.

Further, the finance minister added that despite these challenges, the Indian economy is the fastest-growing in the world and the gross domestic product (GDP) numbers for April-June 2023-24 are "expected to be good".

Also, Sitharamam added that the Narendra Modi-led government's willingness to implement reforms is the key reason behind the Indian economy outperforming its global peers.