Roubini sees India as major growth story, but warns on job creation

Economist Nouriel Roubini, known as 'Dr Doom' for predicting the 2008 Global Financial Crisis, has expressed optimism about India's economic trajectory over the coming decades. He believes India is positioned to emerge as a major growth story, supported by easing US tariffs, deeper trade relationships, friendshoring initiatives and continued domestic reforms.

However, Roubini has flagged a critical challenge: India must accelerate growth towards 9 per cent to create sufficient employment for its large young population. The pressure is intensifying as artificial intelligence reshapes global labour markets and manufacturers diversify production away from China.

For India to capitalise on this opportunity, Roubini emphasised the need for sustained policy reforms alongside faster economic expansion to ensure job creation keeps pace with demographic needs.