Davos and after – beyond the conversations

Nandan M. Nilekani
Co-Chairman, Infosys Technologies Limited
Davos, January 26, 2008

Taking time off for a short post near the end of a busy Davos schedule.
It is becoming clear that even as we work together to address global issues, the recent events in the capital markets show that the world is becoming increasingly multi-polar.

Growth is now more distributed and broad-based with the emergence of multiple centers of growth spearheaded by countries such as India and China. As emerging economies continue to grow, they must be involved in the process of global governance. We need a more equitable representation of countries in global institutions for a constructive discussion on issues of trade and the environment. 
At Davos, we are seeing the interconnectedness of our world across our panel discussions. Take, for instance, the dialogue on clean energy. We discussed bio-fuels as one of the alternatives. However, bio-fuels as a solution need to be seen in the light of sugarcane, corn and maize – a repository of agricultural produce – becoming sources of energy. This will affect the agrarian economy, the labor situation and burden the food supply chain.

But I think there is a growing realization that while there is the issue of equity with the developed nations about who contributes how much to the transition to a low-carbon economy, there is also a realization that it is in India's own strategic interest – since India is at a critical point of growth – to provide direction to that growth and create a system of incentives to create a low-carbon economy.
All these conversations we have at Davos have a subliminal effect – we absorb them, take them with us, assimilate them and revitalize our intellectual toolkit… I think that then starts flowing into academic pursuits, into business decisions, policy decisions…  They manifest in the most unexpected ways.

Comments

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[Praveer Kumar]

The use of clean energy and bio fuel as one of the component is suggestive only to the extent when the biodegradable materials are replenished eg Jatropa plant fuel which by no means can substitute the petroleum energy hence the only widely acceptable means is the solar energy further the incentives for low carbon economy is an short sighted idea, the solution lies in research for more stable fuel economy which can contribute to holistic growth of world economy
The growth of emerging economy causing multi polar world is an narrow concept as the emerging economies are not yet fully integerated with the world economy & society be it India or China

[Vinay]

you say that 'now growth is now more distributed and broad based'?.... oh well, not so sure, because lots of problems with governance and therefore inequality around the globe. are you sure that even in India growth is highly shared, aren't some states staying behind? and look at China's hinterlands. and check out the contrast between east asia and africa. interesting to check this blog out also, which has more recent entries www.thekaufmannpost.net

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