India ranked 35th for leveraging future possibilities; UK, US and Germany in top five

India on Monday ranked 35th in the global index assessing countries’ readiness to harness future opportunities, with UK securing the top position. The Future Possibilities Index (FPI), a prominent global study on future trends conducted by Newsweek Vantage and Horizon Group during the World Economic Forum Annual Meeting, unveiled Denmark, the US, the Netherlands, and Germany in the top five, following the UK. In terms of large emerging markets, China claimed the highest position at 19th, trailed by Brazil at 30th, India at 35th, and South Africa at 50th. The study extensively evaluated factors that would enable governments, investors, and other private sector stakeholders to capitalise on six global transformative trends, promoting growth and well-being across 70 countries. These six global transformational trends are Exabyte Economy (advanced digital technologies), Wellbeing Economy (health prevention and wellness), Net Zero Economy (reduction of carbon emissions), Circular Economy (recycling and reuse), BioGrowth Economy (food and agriculture innovations), and Experience Economy (consumption of experiences instead of physical goods). The combined business opportunity of all six trends is estimated at more than USD 44 trillion by 2030, more than 40 per cent of global GDP in 2023, the study said. The study used data from recognised international organisations as well as a survey of 5,000 business executives conducted for the project by Phronesis Partners. These opportunities are likely to benefit the Global North more than the Global South in terms of economic growth and broader societal wellbeing and a strong industry base is needed to benefit, the report found. The international development community must help developing countries take full advantage of these opportunities by strengthening related industries, it added. With inputs from agencies