Opportunities are unlimited for Asia, says MEA Secretary Ravi
Tetsuya Watanabe, President, Economic Research Institute for ASEAN and East Asia (ERIA – Indonesia) said that India and ASEAN are blessed with young demography and have anticipated pivotal role in global economy.
“The networks in the region have stood the test of time and have remained robust and resilient against shocks,” he said at a Plenary session on Asia, ‘Emerging Economic Centre: Driving Global Growth and Resilience’ at the CII Global Economic Forum 2023.
Tetsuya also highlighted that the year 2023 has been the momentous year for the region as Indonesia and India hosted the consecutive G20 Presidencies and G7 was organised in Japan.
He added that trustworthy supply chains, improved robust connectivity in the region will ensure the prosperity in Asia.
“Asia’s participation in digital economy is important for the overall growth,” he underlined at the session themed ‘Strategizing Global Prosperity Amidst Polycrisis’.
Nadir Godrej, Chairman and Managing Director, Godrej Industries Limited, presented the historical context of Asia’s economic and geopolitical significance in the new world order in a poetical narrative where he emphasised that more needs to be done for Asia as a whole to grow, trade and cooperate.
In his narrative, Godrej also highlighted the importance of humility and people’s trust in keeping up with the accelerated pace of growth.
Also speaking at the event on 7 Dec, Chris Bradley, Director, McKinsey, Global Institute and Senior Partner McKinsey, Sidney, called this time an era of remarkable change.
“Asia is not a side player anymore, as not only majority of people but also majority of trade, majority of energy use, and other activities that would count are here. It is an exciting time to be in Asia and India.”
“In the 21st century it would be the Multipolar world which will dominate. A large number of emerging economies especially the Asian Countries would play a key role in driving global growth,” elaborated Dammu Ravi, Secretary (Economic Relations), Ministry of External Affairs.
“The opportunities are unlimited for Asia,” added Ravi, pointing out that Asian countries have contributed towards global growth tremendously, as 70% of the global growth is dominated by Asia where billions of people have been lifted out of poverty.
“It means a lot for the global growth particularly the Sustainable Development goals (SDGs) is contingent upon how Asian economies grow.”
“Digital Infrastructure can be a game changer in the region and enhanced digital literacy in this region can have a multiplier effect on the global economy,” he said. fiinews.com
