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New Delhi: India is currently the worlds fastest-growing economy and is likely to overtake Germany to become the third-largest. Talking to ET at the World Economic Forum being held in Davos Switzerland David Rubenstein co-founder of the US-based Carlyle Group said that India could become the worlds largest economy within a few decades. Rubenstein said I think India could become the world’s largest economy in 20–30 years.” He added that there is no cause for concern regarding US–India relations. He said “President Trump has generally been quite positive about America’s relationship with India. He has sent one of his very close associates as ambassador. Rubenstein highlights the key policies Rubenstein has asked the policymakers in India not to view global private credit private equity (PE) and private investment as Western-style investments. He highlighted that when the PE and private credit markets are allowed to flourish well-capitalised Indian entrepreneurs will also enter this space. ALSO READ: 8th Pay Commission DA update: How much hike can central government employees expect? Rubenstein explained that private equity (PE) means companies invest their money in firms that are not yet listed on the stock market. Private credit means companies provide loans directly rather than through banks. These are new ways of investing. In India the group has invested more than USD 8 billion in companies across various sectors. China–US Relationship He also said that Trump’s China policy was not intended to harm China but to correct trade imbalances. Rubenstein said “When China realised that there were certain challenges with the United States it began selling its products in other markets. As a result its annual surplus is over one trillion dollars and this is because it increased its sales elsewhere.”