Faculty / School

Faculty of Business Administration (FBA)

Was this content written or created while at IBA?

Yes

Document Type

Conference Paper

Publication Date

5-3-2013

Author Affiliation

Dr. Ishrat Husain is Dean and Director at Institute of Business Administration, Karachi.

Conference Name

South Asian Rotary Summit

Conference Location

Hyderabad, India

Conference Dates

May 03, 2013

First Page

1

Last Page

8

Keywords

South Asia, Economic Development, Regional Integration, Governance Reform

Abstract / Description

South Asian economies have grown rapidly during the last two decades recording an average growth rate of 6 percent annually. The rate had accelerated in the early 2000s to 7 percent before coming down in 2008, and 2009. Before the global financial crisis in 2008, India’s growth rate was a staggering 9 percent and Pakistan, Bangladesh and Sri Lanka around 7 percent. Consequently, the Incidence of poverty declined to 10 percentage points or more in India, Pakistan and Bangladesh. With rising incomes, household consumption has soared and a new middle class has emerged in all South Asian Countries. The exact numbers vary depending on the definition but there is a visible change that can be discerned through the explosion in shopping malls, restaurants and cafés, international travel, entertainment business etc. This expanded market can further grow through economies of scale in production, trade facilitation and communications, ease in movement of people and ideas across the countries in South Asia region. The potential for development and improvement in living standards is enorms but the question is as to how this potential can be translated into actual gains.

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