Ritesh Agarwal Envisions a USD 55 Trillion Economy at Times Now Summit 2024

OYO CEO Ritesh Agarwal's Insights on India's Business Potential

29 March 2024 – At the Times Now Summit 2024, Ritesh Agarwal, Founder and CEO of OYO, unveiled a bold vision for India’s economic future, drawing inspiration from former Chief Economic Adviser Krishnamurthy Subramanian. Agarwal’s address resonated with optimism, drawing parallels between India’s growth trajectory and global success stories like Amazon.

Agarwal underscored the importance of sustained growth, citing Amazon’s steady annual growth rate of 15 to 20 percent over two decades. He highlighted the compounding effect, where incremental growth yields significant outcomes over time. Agarwal suggested that India’s consistent growth, even at rates of 7 to 10 percent, could propel substantial economic advancement, echoing Subramanian’s projection of India as a top-two global economy by 2047.

With unwavering conviction, Agarwal outlined his audacious ambition for India to achieve a staggering USD 55 trillion economy by 2047. Drawing parallels to India’s cricketing journey, Agarwal reflected on the evolution of the country’s economic landscape. He likened the 1983 Cricket World Cup triumph, led by cricketers from metropolitan cities like Bombay, Delhi, and Kolkata, to India’s economic leadership at the time.

Agarwal highlighted the changing dynamics in Indian cricket, where players from smaller towns and cities now lead the way. He praised individuals like Rinku Singh, symbolizing talent emerging from lesser-known regions, mirroring the transformation in India’s entrepreneurial landscape.

Agarwal envisioned a paradigm shift in entrepreneurship, moving beyond traditional hubs like Bombay and Delhi. He anticipated a new wave of entrepreneurs driven by simplicity and a grassroots perspective, poised to establish enterprises of national significance across geographical boundaries.