Microsoft co-founder Bill Gates has said that India has the potential for "very rapid" economic growth over the next decade. He added this growth can help people overcome poverty and let the government invest in health and education priorities in an "exciting way". Gates further praised the Aadhaar identification system and India's performance in the financial services and pharmaceutical sectors.
The positive outlook by Gates for the Indian economy, Asia's third-largest, comes at a time when it is reeling under major slowdown amid apprehensions that the cycle may last for a longer period.
"I don't have any knowledge about the near term, but I'd say over the next decade, there's potential for very rapid growth, which will lift people out of poverty and allow the government to invest in health and education priorities in a really exciting way," he said.
On Friday, 64-year-old Gates, with a net worth of USD 110 billion, regained the position of the world's richest person surpassing Amazon Inc's Jeff Bezos. The Microsoft co-founder has so far donated over USD 35 billion to the Bill and Melinda Gates Foundation for poverty reduction and social development programs in various countries.