A few traditional metrics like the shares of major economies in global GDP, manu facturing, and trade suggest

that there has been a marked change in the configur ation of the world economy, especially over the last decade. Over the last 20 years sustained growth of a number of large emerging economies, especially the BRICS economies, has resulted in an increase in their share in t he global GDP. As a consequence, the value addition in the world economy has bee n moving away from advanced countries towards what have been termed emerging eco nomies. The decline in share is particularly marked in the case of the EU. The s hift towards Asia has been significant and, within Asia, away from Japan to Chin a and India. The fivefold increase in share of China in the global GDP has place d it as the second largest economy in the world. The increase in share of India, though less dramatic, is nevertheless of an order that places her as the fourth largest economy in PPP terms. The reduction in share of advanced economies, particularly from 2005, has been a ccentuated by the slowdown that followed the subprime crisis in the United State s, the crisis in the eurozone in 2010, and the near stagnation in Japan for near ly two decades on the one side and the significantly higher rate of growth in lo w and middle income countries (particularly the large countries like India and C hina) on the other. From the perspective of whether there has been a catch up (or convergence) in per capi ta incomes across a larger set of countries, it is seen that the standard deviat ion of per capita income (at PPP constant 2005 dollars) of 131 countries from 19 80 to 2009 continued to increase for most of the period since the mid-1980s (ind icating divergence rather than convergence), except in the last two three years. This indicates that despite a reduction in the share of advanced countries, the inequity between the developed and developing countries might have increased fo r most of the time period. To register for Indopac Summit 2012 click http://hpe. asia/register.html

As far as India is concerned, it has achieved faster growth from the 1980s. Not only was this growth higher compared to its own past, it was also much faster th an that achieved by a large number of others countries. India s rank in per capita GDP showed an improvement from 117 in 1990 to 101 in 2000 and further to 94 in 2009, out of 131 countries for which comparable data are a vailable for all points in time. China improved her rank from 127 to 74 during t he same period. Underlying the relative decrease in share of advanced economies in the global GDP, there has been a marked shift in the location of manufacturin g. This process was on in the 1990s too but got accelerated in the current decad e. Again, the rise in share of China is particularly significant while other eme rging economies, namely Brazil, India, Indonesia have also moved up in terms of their share in world manufacturing value added. Indopac Summit is a potent platform that discusses out various issues of economi c significance leading to a healthier sight for investors. Investors and Busines s representatives that would take part in the Summit would find the deliberation s by top international economists and political leaders very useful to chart out the future growth plan in India and in other Asia Pacific region countries. Ind opac Summit will take place between 2nd and 3rd October at Taj Mahal Hotel in Ne w Delhi. To read more articles click http://hpe.asia/blog/ Like our page on Facebook https://www.facebook.com/IndopacSummit2012?ref=hl Follow us on Twitter

https://twitter.com/Indopac2012 Venue -: The Taj Hotel, 1, Mansingh Road, New Delhi. 110011 Contact Mr. Sanjeev Kalia +91-9811420446