India witnessing 'snowball effect'; set to see exponential growth in coming years: WEF President Borge Brende

New Delhi, May 26 (PTI) India is expected to clock the highest growth among the world's big economies this year and the country's economy is witnessing the "famous snowball effect" that will lead to more investments and more jobs, according to World Economic Forum (WEF) President Borge Brende.

"There have been reforms that have led to less red tape, better climate for investments and also the digital revolution is really happening in India," Brende said and stressed that he is "very bullish and optimistic" about the country's growth trajectory but not so optimistic about global growth.

India, which currently holds the G20 presidency, is one of the fastest growing key economies in the world and WEF has had close collaborations with the country for the past many years.