Is the global economic crisis over, and how is India poised in this new world order? There is some good news and some bad news emerging from the NASSCOM Leadership Forum that MBAUniverse.com is attending in Mumbai this week. 

Morgan Stanley’s Chairman (Asia) Mr. Stephen Roach sounded the warning bell when he said, “Global economic recovery is weak and should not be taken as a given. Global consumer demand in countries like US is still not there, and this is bad news. While situation in India is more stable, we all live in a global world where decoupling is a myth. So be watchful of what lies ahead!”

McKinsey’s Director (India) Mr Adil Zainulbhai was more positive in his assessment – albeit he spoke of only of the ‘long-term trends’. Mr. Zainulbhai pointed out at 7 Global Megatrends which will benefit India, and its businesses. These trends are:

1. Asia is becoming the center of world economic activity.

2. Working age population in developed countries like Japan & US is shrinking which means that nations like India that have younger demographics will benefit.

3. Increased usage of Internet & Mobile is transforming the way people work and live, creating many opportunities.

4. Natural resources like Oil & Water will become major frontiers of economic action, where Asian countries like Gulf nations and India will benefit.

5. Global economic crisis of last 24 months has made most internal companies more open to new ideas of saving costs and increasing productivity.

6. Corporate boundaries are being redefined opening new opportunities for start-ups.

7. Technology will play an important role in governance with e-governance coming to fore.

Talking about Indian economy, Mr Roach said, “Indian economy is more balanced. But much more focus is needed in areas like infrastructure development.”

Speaking at the Forum the Indian business leaders sounded much more bullish about future. Mr. Vineet Nayar, CEO, HCL Technologies said, “India is poised for a bright future when compared with most countries in the world. However, our education system needs to focus on ‘learning’ and not just information gathering and 'rote'.”

Mr. Pramod Bhasin, CEO, Genpact said, “Demographics is in India’s favour. India as a nation and its industry is poised for bright future.”

The NASSCOM Leadership Forum started on 9 February and will end on 11 February. Stay tuned to MBAUniverse.com for more coverage of NASSCOM Leadership Forum 2010.