‘Accept India and China as emerging power’ Prime Minister Manmohan Singh has said to the Western part of the world. He said that the global institutions to evolve and change in accordance with a new changing world order.

He was delivering the speech at London School of Economics Asia Forum in New Delhi. He said at the forum that United Nations and UN Security Council need some reforms as the global trading regime is being changed.

The management of multilateral trading regime, the protection of global environment and the security of energy supplies are some necessary changes, which should be taken in accordance with changing world.

There is a need of new changed global institutions and global rules of game according to the new reality of the world for the peaceful rise of new nations.

He said that the western part of the world should respect and come to terms with the cost of the rise of Asia. He also said that just as the world had accommodated the development of Europe, it should accommodate the rise of new Asian economies too.

Manmohan Singh said further that both India and China had been lost their share in world’s GDP during last 200 years of European colonialism.

Now, both the countries were bound to reclaim a significant part of their share of the world GDP. China has already increased three times its share of world’s GDP in the last twenty years. Moreover, India has made it double its share in World’s GDP.

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