Direct link to scholarships offered by  Govt. of India

List of Private NGOs offering scholarships

Abu Marwan Abdal Malik Ibn Zuhr: ‘Avenzoar’

Abu Marwan Abdal Malik Ibn Zuhr, known in the west as Avenzoar, was

Ummid Assistant

IRF invites applications for Education Scholarship

Welcome Guest! You are here: Home » Business & Economy

India, other emerging economies to make for half of global growth

Tuesday May 17, 2011 08:58:00 PM, Arun Kumar, IANS

Washington: By 2025, India and five other major emerging economies - Brazil, China, Indonesia, South Korea, and Russia - will account for more than half of all global growth, a new World Bank report says.

As a result, the international monetary system will likely no longer be dominated by a single currency, the report, Global Development Horizons 2011-Multipolarity: The New Global Economy, released Tuesday suggests.

As economic power shifts, these successful economies will help drive growth in lower income countries through cross-border commercial and financial transactions, it said.

To sustain growth and cope with more complex risks, economies that are home to emerging growth poles need to reform domestic their institutions, including in the economic, financial and social sectors, the report said.

China, Indonesia, India, and Russia all face institutional and governance challenges. Human capital and ensuring access to education is a concern in some potential growth poles, particularly Brazil, India and Indonesia, it said.

The report projects that as a group, emerging economies will grow on average by 4.7 percent a year between 2011 and 2025.

Advanced economies, meanwhile, are forecast to grow by 2.3 percent over the same period, yet will remain prominent in the global economy, with the euro area, Japan, Britain and the United States all playing a core role in fuelling global growth.

"The fast rise of emerging economies has driven a shift whereby the centres of economic growth are distributed across developed and developing economies - it's a truly multipolar world," said Justin Yifu Lin, the World Bank's chief economist and senior vice president for development economics.

"Over the next decade or so, China's size and the rapid globalization of its corporations and banks will likely mean a more important role for the renminbi," said Mansoor Dailami, lead author of the report and manager of emerging trends at the World Bank.

"The most likely global currency scenario in 2025 will be a multi-currency one centered around the dollar, the euro, and the renminbi."
 


(Arun Kumar can be contacted at arun.kumar@ians.in)
 

 

 


 

 

  Bookmark and Share                                          Home | Top of the Page

Comments

Note: By posting your comments here you agree to the terms and conditions of www.ummid.com

Comments powered by DISQUS

 

 

 

Top Stories

Modi did not take action despite specific intelligence inputs: Gujarat cop

Senior Gujarat police officer Sanjeev Bhatt Monday told the Nanavati-Mehta commission that   »

Ready to name more witnesses, Gujarat cop tells probe panel

Nanavati-Mehta panel allows cross-examination of Sanjiv Bhatt

 

  Most Read

Girls outshine boys in ICSE results

Girls outshone boys in the Council for the Indian School Certificate Examination (ICSE) Class 10 and Class 12 results declared Tuesday. "Girls have done better than boys with a pass percentage of   »

Goof up in fugitive list: Govt. orders probe

Wazhul Qamar Khan, one among the 50 "most wanted" fugitives named for terror bombings in India, says he is actually living in Thane on bail and not hiding in Pakistan as stated in India's list given to Islamabad. An embarrassed   »

'Most wanted' fugitive in Thane, not Pakistan, says wife

 

  News Pick

Charm Africa: Manmohan heads to Ethiopia, Tanzania next week

Prime Minister Manmohan Singh flies to Addis Ababa next week to participate in the second India-Africa Forum summit that will bind two of the fastest-growing regions in the world in a closer partnership as also to discuss  »

Mubarak's wife signs off assets, to be released on bail

Egypt's prosecutors will release former first lady Suzanne Mubarak on bail after she gave up her assets, Xinhua reported quoting the state-owned Nile TV Tuesday. Suzanne has authorised the Illicit Gains Authority to   »

Abbas to appeal for international recognition of Palestine at UN

Palestinian Authority president Mahmoud Abbas said the Palestinians will request for international recognition for their state at the United Nations General Assembly's meeting in September. "This September   »

Goa schools oppose 'no fail' policy this academic year

The Goa government's decision to implement the "no-fail" policy from classes 1 to 8 as advocated in the Right to Education (RTE) law this academic year has been opposed by school managements, which say they are not yet   »

We want peace in Jammu and Kashmir: Arab League envoy

The Arab League, an association of 22 Arab countries, looks forward to "peaceful coexistence" in Jammu and Kashmir but has no specific position on the dispute between India and Pakistan, says its ambassador  »

 

Picture of the Day

Vice President Mohd. Hamid Ansari addresses after releasing the special issue of “Think India” quarterly on Faiz Ahmad Faiz, in New Delhi on May 10, 2011. Also seen in the picture is Member Planning Commission Dr Syeda Hameed among others.

(Photo: Hansraj)

 

 
 
 
 
 

RSS  |  Contact us

| Quick links

News

 

Subscribe to

Ummid Assistant

 

National

Religion

RSS

Scholarships

About us

International

Culture

Twitter

Government Schemes

Feedback

Regional

History

Facebook

Education

Register

Politics

Opinion

Newsletter

 

Contact us

Business

Career

     

Education

       

 

 

Ummid.com: Disclaimer | Terms of Use | Advertise with us | Link Exchange

Ummid.com is part of the Awaz Multimedia & Publications providing World News, News Analysis and Feature Articles on Education, Health. Politics, Technology, Sports, Entertainment, Industry etc. The articles or the views displayed on this website are for public information and in no way describe the editorial views. The users are entitled to use this site subject to the terms and conditions mentioned.

© 2010 Awaz Multimedia & Publications. All rights reserved.