'Lot to learn from India's ability to overcome global crisis'

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Updated: 08/11/2009 | 11:48 AM IST

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Press Trust of India

Sunday, November 08, 2009 (New Delhi)

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Acknowledging India's ability to successfully emerge out from the global economic downturn, global business leaders today said developed economies can learn a lot from the emerging markets to solve their own issues.

"I think the world has come to recognise the potential of India, it's ability to innovate, it's exceptional talent its growing market and its growing role in the global stage," Accenture Chairman and Chief Executive Officer William Green said at the India Economic Summit here.

Stating that the world was standing at a defining moment, he said that the developed economies are looking to learn from the emerging markets.

"We are trying to understand and learn as to how the world should evolve learn from the emerging markets of the world and take some of those learnings to tackle some of the challenges in the developed markets of world," Green said.

Expressing similar sentiments, Renault Chairman and Chief Executive Officer Carlos Ghosn said there was a lot to learn from India's ability to successfully overcome the global downturn.

"(We are here) to understand what are the reasons why India has done so well in this global meltdown. I am very impressed by the growth rate. For example, the car industry has done very well because of some of the measures taken up.

What is the balance between the government initiative and private initiatives," he said.

Pepsico Chairperson and Chief Executive Indra Nooyi said the gathering of global business leaders to discuss a variety of issues in India was important considering the country's position in the global stage today.

"India today is a major player in the world stage and has been for a while and will continue to be so in the next few of decades," she said.

Considering India's population, the myriad issues it faced, and being the largest democracy in the world, Nooyi said it was important that for the principles of democracy to survive, India has to survive.