India Economic Summit 2009

As the global economy emerges from its worst crisis since the Great Depression, India has consolidated its position as the world’s fastest growing major economy after China. With a democratic setup and a young population, the country is poised play a pivotal role in shaping the next generation of global growth.

But challenges galore. The summit brings together key business and government leaders who will explore the different facets of the Indian economy and identify the opportunities and challenges that will shape the country’s ‘next generation of growth’. This year’s summit also marks the 25th year of the World Economic Forum’s engagement in India.

Opinion Poll

Q.Can India become a superpower?

		Yes
		No
		Can't say

In the news

PM cautions on global economic recovery
Inaugurating the World Economic Forum’s India Summit, Prime Minister Manmohan Singh said on Sunday that the worst is behind us but cautioned that the path to recovery would be long and uncertain.

Overcapacity will hurt the industry: Sunil Mittal
Arijit Banerjee
If people are willing to put big bets and invest billions of dollars in a market place, they are within their rights to do so. But some structural defects have been created in creating overcapacity in the industry and that will definitely hurt it in the short to medium term.

Stimulus to continue till global recovery: FM
Finance Minister Pranab Mukherjee today said the government will continue to provide fiscal stimulus to boost domestic demand until robust recovery is seen in the developed economies.

Tech firms to go headhunting
Technology firms Accenture and Infosys BPO were on Monday upbeat about hiring plans for next year, an indicator of brightening business prospects, although Microsoft India said it would go easy on new recruitments.

Govt to award six road projects worth Rs 30,000 cr
The government is planning to bid out six mega road projects entailing a total investment of Rs 30,000 crore across the country. "We will be bidding out shortly the mega project in the next four to six weeks, we should have the first mega project of about Rs 5,000 crore," Transport Minister Kamal Nath said in New Delhi.

Food prices to ease by this fiscal-end: Montek
Planning Commission Deputy Chairman Montek Singh Ahluwalia on Sunday said the food price inflation would come down by the end of the current fiscal. Prices of vegetable are expected to ease in the coming months, he added.

Infy BPO to hire upto 2000 people by 2010-end
Infosys BPO, the back-office unit of IT firm Infosys Technologies, on Monday said it would hire 1500-2000 people by the end of the current fiscal.

Anand Sharma pitches for continuation of stimulus
Commerce and Industry Minister Anand Sharma on Sunday called for continuation of the stimulus as exports are still contracting even as the Prime Minister stated that the fiscal measures would be phased out next year.

Speculators driving up prices of crude: ONGC
State-run ONGC on Monday said speculators are driving up global prices and derivatives trading should be checked.

Microsoft India going easy on hiring this season
Microsoft India, the wholly-owned subsidiary of world's biggest software firm, is going easy on hiring this year and will instead focus on consolidation, its country head said today.

Accenture to increase India headcount to 50K
Global technology and consultancy giant Accenture today said it is going to add around 8,000 people in India by the end of next year taking its total employee base in the country to 50,000.

Daiichi to launch Ranbaxy drugs in Japan soon
Daiichi Sankyo, which has a majority stake in Ranbaxy Laboratories, today said it is going to launch some of Ranbaxy's generic medicine in the Japanese market soon.

India ranked low in man-woman equality index
India may be the world's second fastest growing economy but when it comes to man-woman equality the country figures at the bottom of the table, ranked 114th among 134 countries by the World Economic Forum.

Bharat Forge to take part in bidding for NTPC tender
Bharat Forge, the world's largest automotive forging maker, on Monday said the company in joint venture with Alstom will take part in the second round of bidding to supply power generation equipment to NTPC.

Mallya calls for foreign airline investment
Kingfisher Airlines chief Vijay Mallya on Monday pitched for liberal FDI rules that will allow foreign airlines to pour money in bleeding Indian carriers.

Fortis Healthcare to set up 3 more hospitals
Fortis Healthcare on Monday said it is looking at adding three more hospitals to its chain with a total investment of nearly Rs 300 crore post Wockhardt acquisition.

'Exporters’ sops not to be withdrawn in near future'
The government would not withdraw stimulus package for exporters in the near future, Commerce and Industry Minister Anand Sharma said on Monday.

Will offer full range of products in India: Renault
French auto major Renault on Monday said it will offer a full range of products in India and is constantly working towards getting the right product line up, even as it tries to sort out differences with partners in the country.

Kingfisher Airlines to raise up to $600 mn this fiscal
Vijay Mallya-led Kingfisher Airlines is planning to raise up to $600 million (about Rs 3,000 crore) in the current fiscal to pay-off part of its debt.

Private investment should go up in farm sector
Private sector should take the initiative to bring in more investment into agriculture without waiting for government support. This was the broad agreement at a discussion on the farm sector here on Sunday.

PM spells out India’s stand on emission reduction
India on Sunday promised to work for a purposeful outcome on climate change at the Copenhagen Conference, but asked rich nations responsible for the damage in the first place to finance developing countries' work on limiting carbon emissions.

Yes Bank to raise Rs 15,00 cr this fiscal
Private lender Yes Bank on Sunday said it will raise about Rs 1,500 crore during this fiscal to fund its growth strategy.

'Education, health sector closest to my heart’
Over 40 years after the country set a target of increasing spending on education to six per cent of GDP, Prime Minister Manmohan Singh on Sunday hoped that this would be achieved in the next couple of years.

Committed to bringing low-cost car in India: Renault
French carmaker Renault on Sunday said it is committed to bringing in a low-cost small car as the concept is still relevant not only in India, but globally also, despite differences with its partner Bajaj Auto.

PM pushes for reforms
Prime Minister Manmohan Singh, who as finance minister in the 90s initiated liberalisation, on Sunday said his government would steadily pursue reforms to feed economic growth, while withdrawing the fiscal stimulus by next year.

'Lot to learn from India's ability'
Acknowledging India's ability to successfully emerge out from the global economic downturn, global business leaders today said developed economies can learn a lot from the emerging markets to solve their own issues.

Davos 2009
The annual meeting brought together the glitterati consisting of politicians, policymakers and business moguls for discussions on the economic crisis, poverty, energy, climate change and free trade.

NDTV Profit Business Leadership 2009
NDTV Profit Business Leadership Awards have been instituted to award organisational excellence. These awards not only honour the men and women who stand at the forefront of Indian Business and Industry, but also the talented people they lead.

Photo Gallery

World Economic Forum's India summit
India’s recent economic performance has served the nation well, even during the global economic slowdown. The country is again set to emerge this year second only to China among the world’s fastest-growing major economies.

Vijayakumaran :

For me India as a superpower means growth and development that is inclusive and not restricted to the rich and urban areas.
No point in having so and so number of cos in Fortune 500 list or having the largest number of billionaires.

11/7/2009 7:29:40 PM

Janaki Sundararaman :

India can become a super power if it attains self sufficiency in agricultural and industrial productions.It has immense human power to work for its prosperity,but it should come out with organised, qualitative hard work with professional approach towards improving country's economy offering job opportunities to the talented and deserving ones.At the political level,there should be commitment to the country's well being, wiping out poverty and unemployment.Social reformation and inclusion of all sections of society under one roof to benefit from social security schemes of government should be made possible.

11/7/2009 1:45:46 PM

Rajesh Kumar :

No country can become superpower,without uplifting its own people from the core issues like poverty,education and employment.
And once these issues are solved,then in my opinion no one can stop INDIA to become SUPERPOWER.

11/7/2009 12:49:33 PM

Nagesh Prabhu :

No doubt India is the only country where the impact of recession was the least. India should concentrate on infrastructural development alongwith technical updation and provide sops to major Technical/agro Industires and Exporters and Importers. With continuing support to Education and Infrastructures , thrust on social welfare like other developed and developing nations would definitely march us ahead. Apart from this they should not politisize the issue when it comes to development of the nation. We wish that India would be the Super Power within a span of three to five years.

11/7/2009 11:27:51 AM

Anwesha Banerjee :

India has potential to become a super power. Whether by 2020 it becomes the super power or not will completely depend not only on infrastructure and domestic economy but also on social reforms. India's biggest challenge will be, to promote BPL people to APL. Once social and economic security are assured, it will be easier for the nation to take pragmatic steps to become a superpower.

11/6/2009 10:10:08 AM

Anwesha Banerjee :

11/6/2009 10:08:52 AM

p_karthikeyan@hcl.in :

I'd say the Indian law and political thinking to change. Money is blocked in real estate, Swiss bank etc. Govt should protect the selling of lands to real estate purpose -the land which declared as illeagal by the govnt. Also rich is becoming rich with the help of swiss bank & only middle class people help the nation to grow.

11/5/2009 12:11:21 PM

makke harish :

In claiming the pride of being a super power which our country deserves..first act as a role model in tackling the public problems...like lacking of infrastructure in low level education (which our country needs desperately for its long term growth), short range of different industries and job profiles india is providing, Bureaucratic burden and not effective utilization of youth. India has achieved a lot but the problem is that it does't showcase it to the world which could be done only by politicians.

11/5/2009 10:24:20 AM

Kirti Mishra :

I have some serious apprehensions about India' claim to assert itself as a superpower. Firstly First wave of development has created some islands of growth surrounded by large undeveloped hinterlands. Untill & Unless the Growth reaches the hinterlands of UP, MP & Rajasthan where half of the India's population resides , this development will only create social issues and underutilization of human potential.
Second apprehension is about the much talked about energy security. India is still nowhere in developing an indigenous clean energy programme able to cater masses. It seems all of India's talent works for making software for I-banks, whereas the pressing concern of the time is R&D on energy.

11/4/2009 6:10:46 PM

Ankil Shaileshbhai Shah :

Yes , India can become Superpower.
But thing is that.
first the mentality of people should change.
Second the authority to do their work honetly on time.

11/3/2009 5:24:33 PM

1 2