Large economies need to join hands with EMEs to overcome probs

Largest economies in Europe are busy trying to save the euro-zone, while Japan is making all efforts to wriggle out of its political and economic crises, said organisers of the second edition of 3-day Annual Investment Meeting (AIM) which starts here tomorrow.

However, none of these large economies can meet the challenges without having direct involvement in the emerging markets such as Brazil, China and India, they said.

The Indian government is renewing efforts to forge a consensus on opening doors to global retailers in multi-brand retail, which is estimated to be about a USD 550 billion market.

It has taken a series of steps to improve investment climate in India, including allowing 100 per cent foreign direct investment (FDI) in the single brand retail sector.

Similarly, China is seeking to maintain the FDI flow of following a good first quarter during which it attracted FDIs worth USD 29.48 billion.

Thus, said organisers, emerging economies will be the focus of attention at the three-day AIM 2012, which they said, is scheduled to host 30 ministers, 45 official delegations and 4,000 participants from all over the world.

China, Russia, India, Brazil, Argentina and Italy will be among the major participants in the event.

India will be represented at the event by a high-level delegation.