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India Ranks 35th in Global Future Possibilities Index

  • Category
    Economy
  • Published
    20th Jan, 2024

Context

Future Possibilities Index (FPI), providing insights into India's positioning at 35th globally and the top-performing countries.

The Index: The study, conducted by Newsweek Vantage and Horizon Group during the World Economic Forum Annual Meeting, evaluates countries' readiness to harness future opportunities.

Findings

  • The Future Possibilities Index (FPI) reveals Denmark, the US, the Netherlands, Germany, and the UK as the top-ranking countries in assessing readiness for future trends.
  • Among large emerging markets, China secures the highest position at 19th, followed by Brazil at 30th, India at 35th, and South Africa at 50th.
  • The study assesses factors crucial for governments, investors, and private sector stakeholders to capitalize on six global transformative trends.
  • These trends, shaping growth and well-being across 70 countries, include the Exabyte Economy, Wellbeing Economy, Net Zero Economy, Circular Economy, BioGrowth Economy, and Experience Economy.
  • Emphasizing the Exabyte Economy's role in advanced digital technologies, Wellbeing Economy's focus on health prevention and wellness, Net Zero Economy's commitment to reducing carbon emissions, Circular Economy's emphasis on recycling and reuse, BioGrowth Economy's innovations in food and agriculture, and Experience Economy's shift towards consuming experiences over physical good
  • Highlighting the substantial business opportunities, the study estimates a combined value of over USD 44 trillion by 2030, constituting more than 40% of global GDP in 2023.
  • These opportunities may disproportionately benefit the Global North, emphasizing the need for a strong industry base for widespread economic growth and societal well-being.

Data Sources and Methodology

  • Utilizing data from recognized international organizations and a survey of 5,000 business executives conducted by Phronesis Partners.
  • This comprehensive approach ensures a thorough assessment of countries' readiness to leverage future possibilities.
  • The report acknowledges that international development efforts must focus on assisting developing countries in maximizing these opportunities.
  • Strengthening related industries becomes crucial to ensure equitable benefits and prevent global disparities in economic growth and societal well-being.
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