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. Stretching of its territory after paying tribute to the people of the land, Mr. Tata concluded. It is no secret that India's fastest growth sector of the economy is the manufacturing sector. The automotive sector is a major contributor to our economy. The automotive sector has grown in more than 200 companies in India who have so far invested approximately 14 000 crores of rupees. These companies have created more than 5 00 000 jobs.
. Problems of cross-border trade and arbitration in the new global order. The last decade has witnessed an increase in trade disputes as an alternative to the protectionism of the past. India has used its Special and Exim Status to protect its interests in these disputes, although the trend towards open markets has largely been in favour of the developed countries. Through its membership of the WTO, India has an opportunity to bring its economic resources to bear in a truly multilateral way. There are a number of concerns about the global order, including the freedom to use weapons, the erosion of democracy, and the growing inequality in international trade. In each area, there is a trend towards unrestrained globalisation and global governance which is counter to the development of democracy in the world.
. Changes in the global economic system. As the global order changes, India must play a proactive role in order to be part of the new global order. Specifically, this volume considers the effects of the global economic system on South Asia and the world economy as a whole and analyzes some of the problems and opportunities relating to globalisation and global governance.
. The changing economics of South Asia. South Asia will become the global frontier because it has a large pool of cheap labour. This is the result of the shift in migration flows away from Europe and America towards South Asia. However, this means that security and prosperity at the global level will be much more closely linked to the peace and stability on the South Asian continent than in the past.
. South Asia in the global order. The central problem is that a leading power is needed to take a leading role in the global order. However, India is not in a position to do so because its economy is not as strong as it should be. The international financial system must create new 0b46394aab