India should address trade,economic issues to play global role

India will have a GDP growth that is higher than that of China in the next few years...

India will have a GDP growth that is higher than that of China in the next few years,said Oxus Research and Investment chirman Surjit Bhalla in his address to delegates at the fourth global meeting of the Emerging Markets Forum here on Wednesday.

In the session titled India and the World Makings of a responsible global citizen,Bhalla said that w hile India will post a GDP growth of more than 9 per cent,China s growth rate will be below 8 per cent in the not so distant future. The strides that India has taken in the last few years need to be taken into consideration. For instance,growth in rural areas has been so significant that more than 50 per cent of income from such areas is from the services sector and not agriculture.

Bhalla also said that China should take the lead in climate change issues. At the same time,India should not remain confined to the issues of south Asia . Organisations like the Asian Development Bank have a key role to play in facilitating India take on a leadership position,he added.

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The more powerful a country becomes,the more responsibilities it has in the global economic and political arenas,said The Financial Times associate editor and chief economics commentator Martin Wolf. If India has the objective to play a role in the global economic and political stage,it needs to address some of the key issues on trade,economic and political fronts,he added. The era of unquestioned Western architecture is over.

Institute of Business Administration director and former governor of the National Bank of Pakistan Ishrat Husain said that despite terrorism in some parts of the country,Pakistan had grown at the rate of 7 per cent.

Even Bangladesh and Sri Lanka have been performing well. Bangladesh is a rapidly growing country with a growth rate of 5 per cent. Sri Lanka has done well in economic growth and poverty alleviation. He added that it was unfortunate that there is no think tank in India that studies the countrys neighbours.

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