When the G20, representing some of world's politically and economically powerful developing and industrial nations, suddenly gained a higher profile with the onset of the global financial crisis two years ago, there was apprehension the group would sooner or later try to upstage the United Nations and its key decision-making role.

China and India are both racing ahead economically. But the manner in which they are growing is dramatically different. Whereas China is a formidable exporter of manufactured goods, India has acquired a global reputation for exporting modern services. Indeed, India has leapfrogged over the manufacturing sector, going straight from agriculture into services.