India outlook too much US-centric: Jagdish Sheth

Forecasting a new geo-economic reality in the world driven by markets of emerging nations, marketing guru Jagdish Sheth today asked India to look at issues in a ''multi-centric'' way instead of the present US-centric prism.

Delivering a lecture on ''The Tectonic Shift: The New Geoeconomic Reality'' at Observer Research Foundation here, Dr Sheth said, ''India is now obsessed with too much US-centric outlook. It has to change, and adopt multi-centric approach.'' Saying India and China alongwith the US would form the ''emerging geo-economic triad'' replacing the US-Canada, European Union and Japan triad, Dr Sheth predicted emergence of a new Asian currency.

He said, the 21st century would certainly belong to 'Large Emerging Nations (LEN)' as the 19th century belonged to America and 18th century to Europe. He said LEN would consist of India, China, Russia, Brazil and other emerging countries.

Dr Sheth, author of famous book 'Chindia Rising: How China and India will benefit your business', said the new geo-economic reality would lead to resources driven global expansion and mergers.

Dr Sheth also argued that economics will drive global politics in the 21st century leading to resources driven politics like in Bolivia, Venezuela, Central Asia , market driven politics as in China, India, Russia and Brazil and global trade and investment hubs like Dubai, Shanghai and Singapore.

''This would lead to rise of multilateral politics with emergence of trilateral politics of the US, Europe and APEC, Chindia leadership in world bodies and agencies, emergency of new global currency and new Asian currency and trilateral currency wars,'' he said.

Dr Sheth predicted it would lead to redefining of capitalism and democracy with compassionate capitalism, disciplined democracy and worldwide rise of spiritualism.

-- (UNI) -- 21DC23.xml

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