Our Bureau

New Delhi , Jan. 6

INDIA will witness change in the economic architecture and is poised to capture a large chunk of global business backed by high economic growth, the Minister of Commerce and Industry, Mr Kamal Nath, said here today.

Speaking at the inaugural of the Hero Mindmine Summit 2006, the Minister said that the success in the telecom and BPO sectors shows that India has truly come of age.

"Backed by a large reservoir of human resource and skill, the country can negotiate at global forums and earn respect worldwide," he added.

Highlighting the fact that the country's 400 million young population is one of the major advantages it scores over western nations, he said that India Inc is making great strides by expanding operations and acquiring international companies.

He said, however, the private sector must help bridge the divide between the booming urban areas and the poor rural sector.

Expressing his concern over the increasing pressure on urbanisation, he said there was a growing need to "put minds together" and adopt a constructive, proactive and a holistic approach to ensure that the "Brand India", which he termed as a "Brand of strength and prosperity", lives up to its image.

On FDI in retail, he said that the Government was in the process of finalising a model that did not displace the existing employment in the sector.

Mr Nath said that India has emerged as a strong force due to the internalised growth and emphasised that policies and reforms pursued should be all inclusive.

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