The Growing Importance of Emerging Economies in the Globalised World and its Implications for the International Financial Architecture

The growing importance of India and other emerging economies in the globalized world are given in this lecture. This group of economies is not easy to define. However, some reflections on the implications of these changes are made. The emerging markets are becoming larger players in the global economy. The main focus is given on 2 aspects: first, the importance of the emerging markets, which is already significant and is likely to grow further; and second, on the implications of this growing role for the governance of the world economy in macroeconomic and financial matters. [Tenth L K Jha Menorial Lecture].