Emerging economies will sustain global economy: Report

Bangalore, Apr 2 (UNI) The Centre for Knowledge Societies (CKS), a innovation consulting company, today released the 'Emerging Economy Report' that highlights the information replacing industrialism in the emerging economies world over.

Strong and sustained employment growth seen in service sector had resulted in manufacturing sector witness variable change, while soft infrastructure like satellite television or mobile coverage had preceded hard infrastructure like highways and bridges.

The report focuses on seven countries -- India, China, Indonesia, South Africa, Kenya, Egypt and Brazil. These key regions was selected as they were experiencing informationalisation under conditions of limited or partial industrialisation.

Briefing newspersons CKS CEO Aditya Dev Sood said the report was a blueprint for innovation in emerging economies and provides insight that could drive corporate strategy, product and services innovation processes.

He said China was emerging as the world's factory. "Chinese artifacts is replacing locally manufactured goods as far away as Egypt and Brazil," he said.

The vast majority of retail outlets in emerging economies were in the informal sector and it is expected under the information economy scenario this informal sector would be able to aggregate into organised, formal, publicly listed corporate entities, he added.

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