Business Daily from THE HINDU group of publications
Tuesday, Dec 04, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Dec 04, 2007 ePaper | Mobile/PDA Version |
|
|
|
|
|
|
|
Markets
-
Stock Markets Industry & Economy - Economy Our Bureau New Delhi, Dec. 3 The slowdown in the US economy may have less impact on the Indian GDP growth rate but Asian markets have not yet decoupled themselves from the world’s largest economy according to Mr Stephen S. Roach, Chairman, Asia, Morgan Stanley, Hong Kong SAR. Speaking at the session on ‘The Shifting Power Equation: Implications for India’ at the India Economic Summit 2007, Mr Roach said that the world economy is still dependent on the US because US consumers are very open to buying foreign products. “Asia therefore cannot decouple itself from the US economy though the impact on India would be lesser,” he said. Impact on povertyChairman of Reliance Industries, Mr Mukesh Ambani, however, said that the global economic slowdown led by the slump in the US will have no impact on the energy sector as aspiration levels in countries like India and China is still high enough to drive fuel consumption. “The new century has seen the context of international relations being shifted from geo-politics to geo-economics. The two advantages, which India has, are its developmental model and democratic political system. The developmental models can potentially eliminate poverty in India in the next 10 years. The democratic environment helped India to have a peaceful and stable economic environment,” Mr Ambani said. Mr Robert F. Bennett, Republican Senator from Utah, US, pointed out that there were many Republicans who supported Free Trade agreements. He was hopeful that Ms Hillary Clinton, who is a contender for the Presidency of the US, if elected, would carry on the free trade policy. 3D advantageMr Anand G. Mahindra, Vice-Chairman and Managing Director, Mahindra and Mahindra, India and co-chair of the India Economic Summit 2007, said that he reposed faith in the 3D advantages of India — Democracy, Demography and Durability. “India’s demographic advantage is that it has the highest number of people in the working age group and this is going to continue for some time. Durability stems from the fact that India is a peaceful and stable nation,” Mr Mahindra said. More Stories on : Stock Markets | Economy
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|