India will be out of market gloom soon: Kamal Nath

New Delhi, Jan 23 (UNI) Commerce Minister Kamal Nath today said India will be out of the global market gloom soon because ingredients of fundamentals contributing to such changes are shifting with increasing importance for Indian economy.

During a panel discussion on the Asian Renaissance at the World Economic Forum (WEF) meet at Davos in Switzerland, he said global economic architecture is also changing.

Answering young global leaders on how they should understand Asia's re-emergence and growing leadership on the world stage and if the rise of Asian economic power will be accompanied by re-emergence of its soft power, Mr Kamal Nath said rules of international trade are changing and the West no longer can remain the custodian for such rules. But at the same time he said managing growth is the biggest task ahead of Asia.

He said as the Asian region grows in economic importance the world is increasingly looking at the East for greater economic engagement.

Mr Shashi Tharoor, former UN diplomat and Mr Kishore Mahbhubani, Dean of Lee Kuan Yew School of Public Policy, Singapore among others took part in the panel discussion. Hindustan Times Managing Editor Raju Narisetti was the moderator, an official statement said.

UNI SAA MP PK KP1722