Renowned British-American historian Niall Ferguson believes India’s recent economic performance is one of the most striking global developments - driven not only by sound policies but also by the country’s institutional strengths and democratic foundations.

Speaking at CNBC-TV18’s Global Leadership Summit 2025, Ferguson said India’s open society, regular elections, and free press provide it with a “fundamental institutional advantage” over China.

While China remains a manufacturing powerhouse, its aging population is now a major structural challenge. In contrast, India’s younger demographic and steady growth above 6% are positioning it for long-term catch-up, especially as China’s economy slows to low single digits.

“There is, however, still a long way to go,” Ferguson said, pointing to

See Full Page