John T. Chambers, former executive chairman of Cisco, expressed unwavering confidence in India’s future, predicting that the country will soon become the world’s number one and fastest-growing economy. Speaking at CNBC-TV18’s Global Leadership Summit in Mumbai on Thursday, November 14, 2024, the seasoned investor and technology expert, emphasised the dynamic partnership between India and the United States, particularly in sectors like artificial intelligence (AI), defence, and job creation.

“India will become the number one economy in the world, and it will be the fastest-growing,” Chambers stated, underscoring the vast potential for economic expansion in a country with 1.4 billion people. His optimism is rooted in the strong foundations laid by India’s startup ecosystem and its growing infrastructure.

Chambers also pointed to the warm diplomatic relationship between Prime Minister Narendra Modi and US President-elect Donald Trump, which he believes will fuel further growth.

“The confidence is greater than it’s ever been. The new combination of US leadership and Indian leadership will drive job creation and growth,” said Chambers. He highlighted that the bilateral relationship will not only benefit both countries economically but will also serve as a model for democratic nations working together.

“This is not just India’s decade but India and the US together will lead in AI, defence, and job creation,” he added.

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A strong advocate for AI’s transformative power, Chambers believes it will revolutionise industries, from healthcare to finance, and dramatically improve the standard of living.

“AI will change your job, how you entertain, and even cure cancer,” he said. He anticipates that by the end of 2025, AI will significantly touch the lives of most Indians, urging companies to start investing in this technology now.

Chambers also shared his personal commitment to India’s entrepreneurial spirit, noting that 60% of his investments are in companies led by Indian CEOs. “The startup mentality in India is the fastest-growing in the world, and your IPO market is also the fastest-growing globally,” he remarked.

Regarding the future of cybersecurity, Chambers anticipated a wave of consolidation, particularly within the industry’s cybersecurity space. He stressed the importance of companies adapting to AI technologies, warning, “Disrupt or you will be disrupted.”

Chambers wrapped up his comments by encouraging Indian entrepreneurs to dream bigger and foster ownership within their companies. “Dream big, execute well, and when you get knocked down, get back up stronger,” he advised, drawing on his own experiences in the tech and investment sectors.

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