'India to generate 10% of world trade by 2022'

India's share in world trade, which accounted for about one per cent of the global trade, is expected to grow ten times to at least 10 per cent by 2022, Management guru C K Prahlad said today.        

Also, the country could expect at least 30 companies in the Fortune 100 list in a decade or so, Prahalad told a CII organised seminar.        

The fast growing economy may make India a major global player but the growing inequality in income would make it that much difficult in ensuring that the fruits are shared by all segments of the population, he said.        

"The country has the power to shape up the world in the coming years...I expect that India has the potential to generate atleast 10 per cent of the world trade by 2022," Prahlad said.       
 
While large-sized corporates would be the major growth-drivers, small-sized companies, emerging from Tier-I and II cities, are also likely to play a key-role in the India growth-story, he said.        

Exhorting that growing inequality in income levels and life styles need to be checked, Prahlad also highlighted an urgent need for enabling the poor get access to low-cost technology.        

Also, the growing threat of corruption can be curtailed by minimising the supply-demand imbalance, he said.        

"Large number of corruption is happening because of the market mechanisms, primarily because of the supply-demand inequality," Prahlad said.