India Succeeded In Building "World's Best Digital Economy": Nobel Laureate

With the centre of gravity shifting steadily towards the East, there is a fundamental change in the global economy whereby supply chains are getting diversified and global governance is becoming more complicated than ever before, he added.

Noting that India is a major economy with the highest potential growth rate right now, Nobel laureate economist A Michael Spence said the country has successfully developed by far the best digital economy and finance architecture in the world.

Mr Spence, who was awarded the Nobel prize in Economic Sciences in 2001, shared his views during an interaction with students and faculty at the Bennett University in Greater Noida on Monday.

"The major economy with the highest potential growth rate right now is India. India has successfully developed by far the best digital economy and finance architecture in the world. It is open, competitive and delivers services of an inclusive kind to a vast array of territory," the Nobel laureate said, according to a statement issued by the varsity.