a)       Mr. N Kiran Kumar Reddy, Chief Minister of Andhra Pradesh said “The MoUs signed for private, and public-private-partnership projects in The Partnership Summit 2012 has crossed Rs 6,47,000 crore, and the government has already given approval for 23 projects worth over Rs 71,000 crore,” He announced that in the next three months, Andhra Pradesh will roll out a Government to business (G2B) portal to enable businesses apply for various government clearances that are required throughout the life cycle of its operations, completely online.

b)    Dr. J Geeta Reddy, Minister for Major Industries, Commerce & Exports, Government of Andhra Pradesh said that the State has quality infrastructure, enabling environment, and proven track record to promote industries in the areas of agro & food processing, automobiles, pharmaceuticals, textiles, IT and ITeS, power, tourism, mineral, and petrochemical & chemical industries. She pointed out that with US$ 118 billion, Andhra Pradesh is one among the top three economies in India. It has got the second largest mineral resource, and coast line.

c)     Mr. Goh Chok Tong, Emeritus Senior Minister, Republic of Singapore, said that India has a huge potential to become an innovation leader, and can do more in integrating itself with the rest of the world. The Indian industries should grow more outside India, though the country has a big domestic market.

d)      Ms.Sheikha Lubna bint Khalid AI Qasimi, Minister of Foreign Trade, United Arab Emirates, said that India is one of the top trading partners of UAE with the bilateral trade between the two countries crossing US$ 76 billion, accounting for 10.8% of the total foreign trade of UAE. India has received US$ 2 billion worth foreign direct investment from UAE.

e)     Mr. Gita Irawan Wirjawan, Minister of Trade, Republic of Indonesia, in his address, said that India and Indonesia has strong traditional linkages. Since India launched its Look East policy, there has been a steady growth in the bilateral trade between Indian and Indonesia. He said that there is a scope for both the countries establishing cultural, information and communication connectivity. Through e-networks, India can offer tele-medicine.

f)        Mr B Muthuraman, President, CII, and Vice Chairman, Tata Steel Ltd, in his address, said that new alignments, partnerships and new ways of collaborative working between emerging economies, who are driving the global economic growth, and the debt-ridden Western economies that are strong in innovation, technology development, management, and governance. The new world order should be built on conversations instead of dominance or protectionism.

g)      Mr. Anand Sharma, Union Minister for Commerce and Industry said the situation where the U.S. and the European Union were considered the two pillars was no more. “Multilateralism will guide the global change and it has to be sustained,”. It was matter of time before emerging countries overtook the GDPs of the top seven nations. Even as the global economy was faced with European sovereign debt crisis and global cross currents, the Indian Government had come out with the National Manufacturing Policy that could be “a game changer”.

h)      The Summit was attended by over 1200 delegates, out of which, 350 delegates were from over 40 countries.

Post the global financial and economic crisis, the world economy in 2011 settled into a protracted period of recovery and rebalancing. As governments stepped back from stimulus spending, the encouraging growth of the previous year gave way to anxieties about deceleration, accompanied by multiple downside risks. Emerging challenges of the new multi-polar age call for innovative solutions that would have to be

Jointly developed by the world.

In the vulnerable economic environment, the Indian economy clocked 8.5 per cent GDP expansion for 2010-11 and remained one of growth engines of the global economy. Its outward engagement in terms of trade and investment with the rest of the world continued at an elevated pace, and it is viewed as a land of new opportunity for business. Yet, India faces myriad challenges of poverty and inclusive growth. In order to continue in its mission of growth and human development, India needs strong partnerships with world economics and a new format of innovation in its economic DNA

The Partnership Summit 2012, themed 'New Age Innovation Partnerships', would be the platform for exploring the various facets of innovation that can drive future global growth and the roles that India can play in fostering and strengthening the forces of such innovation. To be held in the progressive city of Hyderabad, it would highlight the cutting edge technologies currently emerging out of India and build new partnerships for evolving and dispersing innovation.

Global Economy: The first half of 2011 witnessed major socio-political developments that have significant bearing on the global economy. The Arab Spring brought regime change in several Middle East and North African nations as well as renewed conflicts in others. In Japan, the earthquake and tsunami devastated lives, ruptured the economy and flagged safety of nuclear power installations. Stressed EU economies are still fragile and need support from fellow members to overcome high public debt and deficit.

According to the IMF's World Economic Outlook update in June 2011, global activity is undergoing temporary moderation, while a multi-speed recovery continues in different parts of the world. World GDP went up by 4.3 per cent in the first quarter of 2011 and the IMF expects this level to be sustained in 2011 and 2012. The IMF calls for fiscal consolidation and financial sector reforms in advanced economies and demand rebalancing in emerging countries.

 

The specters of inflation and financial volatility as well as euro area financial stability and protracted unemployment are mentioned as downside risks to global growth. Within this scenario, the urgency of global partnerships remains keen as collective action for recovery continues to be an imperative. Most important, the global imbalances that were at the core of the crisis need to be redressed.

Indian Economy: The Indian economy is undergoing major structural transformation, driven by favorable demographics, rising per capita incomes and facilitative macroeconomic and sectoral policies. Critical policy actions are expected in the coming few years that will further unlock the vast potential of GDP expansion that will serve as a crucial hub of growth for the global economy.

India is setting the pace for a new global economic model that is increasingly defined by innovation. Driven by domestic consumption, an innovative entrepreneurial class, and global integration, India's new development experience is being termed the Inclusive Growth model. The chief characteristic of this model is creating an enabling climate for doing business that fosters rapid expansion of the economic pie, accompanied by targeted Government schemes channeling income to those who need it most.

India's growth is an example of an economy that, in the words of Lawrence Summers, is "A consensus based globally not on the idea that competitiveness was in service of a nation trying to win a zero sum game, but rather on the idea that through international integration, nations could diversify, pursue their strengths, and realize together the benefits of larger global markets."

New Age Innovation: As the world rebalances and multi-polarity emerges, new forms of innovation will be required. Most critical, these formats would have to be jointly developed through collaborative research. For the emerging world, innovation is needed to develop cost-competitive new products to meet felt needs of emerging middle classes - for education and healthcare, for connectivity, and for sustainable lifestyles. For higher income consumers, innovation would be related to carbon emissions and energy efficiency as well as research itself. India is already a laboratory for the world in many of these areas.

In particular, India would need to innovate to strengthen partnerships with its traditional friends as well as with new markets. Its trade profiles and investment relations with a resurgent China and a vibrant Africa would be particularly relevant for its future interest.

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The Partnership Summit 2012, the flagship international event of the Confederation of Indian Industry, brought together economic and commercial policymakers, businesses, innovators, and the public at large for relevant discourse on the current status of innovation in all spheres of activity, and helped to  evolve a roadmap for leveraging innovation for global inclusive growth and development.

The Conference had plenary sessions covering:

a)     Global Economic Shocks: Perfect Storm Ahead?

b)    The India and USA Promise : Partnership for Progress

c)     India and Africa : Joining Hands

d)    India and China: A New Dynamic

e)     New Drivers of Development

f)     Corporate Global Citizenship in the 21st Century

g)    A Unified Earth Theory: Combining Solutions to Extreme Poverty and the Climate Crisis

JCB, SRI CITY, AMARA RAJA, APOLLO HOSPITALS, GVK, INFOTECH were the sponsors of the conference.