June 24: India’s growing middle class, large consumer base and swift adoption of innovation and technology are positioning the country as one of the most attractive long-term growth markets globally, according to Aker BioMarine Chief Executive Officer Matts Johansen.
Speaking on the sidelines of the World Economic Forum’s Annual Meeting of the New Champions, also known as the Summer Davos, Johansen said India continues to offer significant opportunities for businesses seeking sustainable growth.
He noted that the combination of a large population, rising consumer spending and openness to new technologies creates a strong foundation for continued economic expansion. According to Johansen, these factors are likely to support long-term demand across a wide range of industries.
Reflecting the company's confidence in the Indian market, Aker BioMarine is expanding its local presence and is in the process of establishing an office in Mumbai. The Norwegian biotechnology company has been active in India for several years, supplying ingredients to the country's shrimp farming industry, one of the largest aquaculture markets in the world.
Beyond aquaculture, the company plans to deepen its engagement with India by providing ingredients for food products and human health supplements, aligning with growing consumer demand for nutrition and wellness products.
Johansen also highlighted the transformative role of artificial intelligence in driving productivity and operational efficiency. He said AI is expected to play an increasingly important role across manufacturing, sales, marketing and finance functions, helping businesses improve performance and unlock new growth opportunities.
As companies worldwide accelerate their adoption of emerging technologies, India’s innovation-driven ecosystem and expanding consumer market are expected to remain key attractions for global investors and multinational businesses.
The Summer Davos meeting, being held in Dalian, China, has brought together leaders from business, government, academia and international organisations to discuss innovation, entrepreneurship and the future of economic development.