Davos, Jan 22 (NationPress) India is rapidly establishing itself as a formidable global power hub, fueled by its substantial and youthful population, burgeoning economy, and an evolving innovation landscape, as highlighted by global industry leaders on Thursday.

In conversations with IANS during the World Economic Forum, business leaders emphasized India's escalating significance in global economic advancement and its capacity to draw sustained foreign investment.

Providing a worldwide viewpoint, Tu Chang, the Founder of the Forum for Business in Taiwan, remarked that India's demographic edge positions it as one of the most vital economic players on the global stage.

“India is emerging as a robust global power hub. With its vast young population, India presents enormous opportunities for growth and innovation,” Chang asserted.

Tu Chang noted that India is already recognized as a key contributor to global economic expansion and is anticipated to maintain this trajectory in the years to come.

He further stated that the World Economic Forum this year is tackling various critical issues, including sustainable development, capital flows, investments, and political hurdles, all intricately connected to economic advancement.

“The country's demographic strength and its growing economy are pivotal factors that will lure more international investments,” he elaborated.

He also commended Prime Minister Narendra Modi's governance, asserting that the Indian government is making significant strides to enhance economic performance.

“India's youthful workforce is a significant asset, and under Prime Minister Modi's leadership, the nation is poised to excel in the upcoming years,” Tu Chang expressed.

Milind Pimprikar, the Founder of Caneus International, indicated that discussions at this year's World Economic Forum are centered on responsibly scaling technologies.

He stated that Caneus is collaborating with the Government of Maharashtra and the Government of India to establish a new framework facilitating startups and deep-tech innovations transition from development to large-scale commercialization.

“Today at the World Economic Forum, the focal point is how to responsibly scale technologies,” he mentioned.

“Through our collaboration with the Government of Maharashtra and India, we aim to create a 'mid-technology readiness level' to elevate these technologies and startups to the next phase,” Pimprikar conveyed to IANS.

Pimprikar noted that the partnership intends to introduce a 'mid-technology readiness level' to assist promising technologies and startups in reaching their next growth milestone.

He also shared that an agreement was signed with the Maharashtra Chief Minister to set up an institute dedicated to the commercialization of deep technologies, fostering innovation-led growth in India.

“India's vigorous economic momentum, expanding infrastructure, and mature business ecosystem render it an appealing location for global investors,” stated Frank Meehan, co-founder of Frontier One, Australia.