Source: PTI 'Sweet spot' India, China to power global growth

As leaders and economists debated the future of globalisation here at WEF, the emerging narrative shifted to growth booster from Asia for the global economy amid darkening prospects for trade worldwide. Emerging as a sweet spot, India along with China are set to rev up world economic growth as a "new normal" of inward-looking approach raised questions over the future of globalisation at the WEF meet here, while Indian leaders listed out demonetisation as a measure owed to people in the fight against black money.

 As leaders and economists debated the future of globalisation here at WEF, the emerging narrative shifted to growth booster from Asia for the global economy amid darkening prospects for trade worldwide. While asserting that UK would retain its internationalist approach despite Brexit, Prime Minister Theresa May said the country's biggest manufacturer Tata is Indian but still there cannot be anything more British than its product Jaguar Land Rover. India was today applauded as a major driving force alongside China for world growth with leaders and economists emphasising the need for increased regional cooperation. Veteran banker and New Development Bank President K V Kamath said a "new normal" is emerging where many countries would prioritise an "inward look" at their national policies even as India remains in a comfortable position. While stating that India and China contribute a big chunk today to the global growth, he India is in a "sweet spot" as the country absorbs investments in infrastructure, manufacturing and areas driving the consumer sector...

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