India is the future for whole world: GMR chief

India is the future not only for Indians but for the world, a leading Indian corporate leader said here.

Citing a recent McKinsey report to assert that India would achieve an average GDP growth rate of around 8 percent by 2022 which will help leave only 1 percent of the population below the poverty line by that time, GMR chairman G. Madhava Rao said: "No multinational company can afford to be absent from India because of its enormous intellectual manpower."

Pointing to how Indian owners are turning around foreign companies into profitable ventures, and that Indian management is becoming the subject of case studies in leading business schools abroad, Rao said: "India is the future not only for Indians but for the entire world and there is no second thought about it."

"India is a perfect place for be it your professional or entrepreneurial journey, and what could be a better time than this. I think this is a perfect time for you all," he told the graduating students at the 12th convocation here last weekend of the University of Petroleum and Energy Studies, Dehradun.

Praising the newly-installed Bharatiya Janata Party-led government at the Centre with Narendra Modi as prime minister, Rao said: "Today, India is all set to become a global superpower triggered by the advent of this new strong and progressive government with a very decisive leader with the only mandate of "development" thus kick-starting growth, creating millions of jobs and spreading prosperity."

The private research University of Petroleum and Energy Studies is the first institution in the country to offer 76 specialized programmes across oil and gas, power, transportation, infrastructure, and logistics and supply-chain sectors.