By IANS
New Delhi : India is all geared up to host for the first time Fortune Magazine’s annual forum that brings together global industry leaders, policymakers and economists from across the world.
India, currently regarded as one of the world’s fastest growing economies, has become the cynosure of companies across the globe that are bullish to grab a pie of this billion-plus market.
This is going to be Fortune’s tenth global forum. It was held in Beijing last year.
The two-day event will be held at the capital’s Imperial Hotel. Some prominent speakers include Cisco’s John Chambers, Dell’s Michael Dell, US treasury secretary Henry M. Paulson Jr., economist Thomas L. Friedman, Sony Music’s Andy Lack, Autodesk’s Carol Bartz and Samsung’s H.B. Lee.
India’s annual rate of growth for the last four financial years had been above eight percent. In 2005-06, gross domestic product (GDP) growth rate had been nine percent and in 2006-07, it was 9.4 percent.
The country has also emerged as one of the major manufacturing hubs with global companies such as Nokia, Dell, Volkswagen, Hyundai and LG setting up their production units here. Some are also using it as an export hub.
India is now also regarded a significant source of human resources and market opportunities. India’s working age population accounts for 60 percent of its total population. India’s middle class is estimated to be more than double by the end of this decade, which will represent a market of 250 million.
The million-dollar event is open solely to chairmen, presidents and CEOs of large multinational companies. The forum will discuss and debate issues related to “Mastering the Global Economy”.