India Determined To Lead The 'Asian Century'

In a keynote address on 'A look at India's trade partnerships' at the Asia Society Corporate conference being held in Mumbai, the Minister of State for Industry Ashwani Kumar declared that India will lead the 'Asian Century.'

"As we enter the 21st century, a confident India, seeks, as Prime Minister Manmohan Singh stated, a 'new paradigm of international cooperation relevant to an emerging multipolar world," said Kumar, a lawyer and former additional solicitor general.

China and India are the economic powerhouses in Asia. The size of populations in both these countries coupled with their rapid economic growth makes the Indian Minister's statement credible.

According to a recent study by PricewaterhouseCoopers, the "Indian economy is expected to be the second largest in the world by 2050 in purchasing power parity terms, after China. According to another forecast, India could achieve a per capita income of $30,000 by 2047 assuming a dollar-rupee exchange rate based on purchasing power parity.

But, the Minister also warned, "while we bask in glory of our national accomplishments, we must not allow our the 'frenzy of the forces of change' to distract us from a vision centered on those who live on the margins, nor must we fail to cherish diversity in our unity."