India will be the world's future talent factory as it will have 20% of the globe's working population by 2047, said Bob Sternfels, CEO, McKinsey & Co. The firm's 13th global leader added that it will not only be India's decade, but India's century, with all key elements in place - a large working population, multinational companies reimagining global supply chains, and a country leapfrogging at digital scale-to achieve something special not just for the Indian economy, but potentially for the world.
McKinsey plans a "disproportionate commitment" to India and that's why its global board will be coming to the country in December, Sternfels said. The firm has 5,000 people in India, a number he wants to double to 10,000. In an exclusive interview with ET's Vinod Mahanta, Sternfels talks about the India opportunity, the recent scandals that have hit McKinsey, the state of the global economy, inflation woes and the threat of deglobalisation. Edited excerpts:
The Indian economy seems to have weathered the pandemic fairly well, despite hitting a few rough patches in the last two years. How do you see India's growth story unfolding in the context of a deceleration in global economic activity?
Many people have said that it's India’s decade. I actually think it's India’s century when we look at some of the raw ingredients here. India is the future talent factory for the world. By 2047, India would have 20% of the world’s working population. And with supply chains being reimagined, it has massive potential for India across all aspects of manufacturing. The third is digitisation. India has leapfrogged on the digital scale. All those are the raw materials to do something special for not o ..
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