4th Global Economic Summit inaugurated

Singh said the Asian economy has much to offer to the globe.

 

Need to Revisit the Globe Trade Regime to Benefit the Asian Continent says Dr. Singh

 

“The Asian economy has much to offer to the globe. The Asian continent has a demographic advantage being home to a young, skilled and productive work force. Secondly, the continent boosts of a pool of natural resources which needs to be tapped to give impetus to its manufacturing," Singh said.

 

"Thirdly, technical expertise required for any manufacturing or service industries are intrinsic in the Asian continent. The combination of a demographic base coupled with access to natural resources and technological expertise inherent in Asia makes it the centre piece of the globe. However, the Asian developmental model lacks access to quality infrastructure, education and health. The answer to its shortcomings lies in global integration by encouraging international trade and investment. However, trade protectionist policies of major economies of the continent possess trade barriers. There is a pressing need to revisit the global trade regime to create equal opportunities for all economies to benefit from global trade and growth”, he said during the inauguration ceremony of the 4th edition of the Global Economic Summit on the theme “Asia: Powering Global Markets” jointly organised by MVIRDC World Trade Centre and All India Association of Industries. 

 

Outlining the path for the Indian economy, Singh said that India is gradually picking up from its sluggish growth prospects witnessed recently.