India, China to be engine of global growth: experts

Written by Press Trust of India | Davos | Updated: Jan 30 2010, 05:26am hrs
Led by India and China, Asia will not only become the global engine for growth but will also increasingly exercise its influence on the rest of the world, experts at the World Economic Forum (WEF) annual meeting here have said.

As their economic might grow, the regions (Asia) various societies will become more assertive and influential, WEF said in a statement, summing up the discussions on a session on The Rise of Asia on Wednesday.

Among the speakers, who participated in the session, include Asian Development Bank chief Haruhiko Kuroda and president and CEO of Genpact India Pramod Bhasin.

India and China continued to grow at reasonable rates even when several developed countries witnessed economic contraction. While India grew 6.7% in 2008-09 and is expected to rebound to 8% this fiscal, China jumped to 10.7% during the quarter ending December 2009 from a low of 6.8% during the period a year ago.