India’s potential as a dominant global force is becoming more apparent with each passing year. Recently, a series of posts on X, formerly Twitter by an international visitor named JJ (Joseph Jacks) who is the Founder and General Partner of OSS Capital, based in San Francisco captivated the social media, sparking widespread discussion.
His visit to India led him to make a striking prediction that set the internet abuzz. Taking to the platform X, he wrote, "I’ve been in India for 36 hours and have been fully convinced that unless America dramatically reverses the current trend, India will be the most powerful and transformative nation in the world well within a decade."
His post prompted thousands of responses, ranging from agreement and excitement to skepticism.
Breaking Down the Reasons
To explain his viewpoint, JJ in a follow-up post wrote, "Why?? Am I nuts?!?!!? This was not flippant… I’ll unpack:"
He pointed out some key factors to elaborate it:
"India’s nominal GDP growth has been accelerating since the 70s from 4-6% to nearly 10% in recent years. Run the numbers and this adds > $10 trillion in GDP within a decade and moves India into the top 3 close to China (growing half as fast)," he added.
Moreover, he added, "India stock market participation (grew by $1 trillion in 6 months this year) is currently 4% ~ and will be > 90% within the next 5-6 years, growing explosively fast. This can easily unlock another $100 trillion (probably way more)."
He highlighted about India’s achievement in the open-source sector, which he argued is not fully captured in GDP metrics. Taking it further, he wrote, "Open source is NOT reflected in GDP (which is kind of a dumb measure anyway) and India has been the number one nation by far in terms of open source production globally in recent years. If this sustains and continues, we are talking about hundreds of trillions of value transformation globally."
Netizens Reaction
One user commented, “What are the top three catalysts? I moved from the US to India to build this month.” JJ’s responding to it wrote, "1) youthfulness and ethic 2) density of natural talent 3) output of open source Not in that order necessarily!”
Furthermore, another user added, "Reading the comments, it seems most of the westerns are still in disbelief and still consider India as a poor country. These people need to open their eyes and see the change happening...India will rule the world in the next 2 decades..."
On the other hand, some users pointed out challenges that India still faces. “Crypto is still taxed 30%, 1% tax on capital every time you buy and sell crypto, basically day trading is impossible with such restrictions and no loss offset allowed. It'll take more than 2 decades lol. And that's just crypto,” wrote one user. JJ, however, remained optimistic and replied, “Not hard to fix this. Modi is very progressive.”
Screengrab of the comments |
