Asian countries are witnessing a new change on the economic horizon, and India seems to be doing well
THE Hindustan Times Leadership Initiative began in 2003, and has now become a yearly feature. Last year, the HT Leadership Initiative Conference was held in New Delhi. Renowned politicians and businessmen from all over the globe took part in the conference, making it a memorable event.
While inaugurating the conference in the Indian capital on Nov 5, 2004, Indian Prime Minister Manmohan Singh observed that there is pluralism in democracy in South Asia, which rejects exclusivism and promotes secularism. To elaborate on his idea Mr Singh said secularism is part of Indian democracy, having ideas of non-interference in other countries’ matters, strengthening democratic principles and sharing with the whole world the fruits of democracy. It would be difficult to dispute that India is an economic powerhouse in the new global world with seven to eight per cent growth rate.
Mr Singh said Saarc countries need peace and security to continue their economic agenda that they’ve set for the 21st century and must mutually cooperate. The 21st century belongs to Asia, as many South Asian countries have now begun to work together. There are, however, three areas of concern:
1. Agriculture, which is responsible for 70 per cent of Indian economy’s growth.
2. Information technology as an industry and its qualitative as well as quantitative services.
3. Human Resource Development in education and healthcare sectors.
Peace in Asia is most important in order to maintain growth in the economic sector. There is a tremendous creative potential in South Asia. India and Pakistan must resolve all disputes and outstanding issues. There should be a will on both sides to continue the process of composite dialogue.
On Nov 5, Chairperson Congress Sonia Gandhi addressed the conference. She talked about India, a country of one billion people, having the fastest growing economy and plural democracy. She said India in very little time India has achieved tremendous success in the economic sector.
She apprised the audience that in India there is a quest for finding energy sources and tapping alternate sources of supply with foreign investment from Russia, Mynamar, Vietnam and Central Asia.
Indian companies have now a global presence. Take for example Reliance, a 100,000-crore company, which has its exports to match its strength. To boot, Indian curry is becoming very popular among the people living in Europe.
She said the IT industry in India is a big exporter and supplier of technical and engineering personnel. It also provides consultancy in financial management. It would be noteworthy that there is an Indian in the United States Congress. The NRIs (non-resident Indians) contribute six to seven billion US dollars yearly to Indian economy. Indians have set many a goal for themselves and are constantly moving forward.
Sonia Gandhi conceded that she is not the power behind Indian throne and works only in an advisory capacity in the Congress Working Committee.
On the occasion, Dr Farooq Abdullah and Imran Khan were found sitting together, discussing the issue of Kashmir.
Mr Chidambaram, the Finance Minister of India, complimented Manmohan Singh’s 1991 reformation policies and talked about the Brick Report.
He informed the audience that as far as growth goes, India now stands third in the world. The majority of its population enjoys a good standard of living. The country is now inviting a lot of foreign capital for medium and long-term investment in energy, IT and engineering sectors.
Trading, which used to be 20 per cent of Indian economy, has now become 85 per cent. Merchandise has increased from 200 per cent to 360 per cent. Forty per cent of the population forms the workforce of the country, which will gradually increase in the next 20 years to 60 per cent. About 73 per cent of India’s youth is literate. India will be heading towards 100 per cent literacy in the next 10 years. This factor is the force which drives its colossal economy through a cooperative federation.
INDIA IN THE 21ST CENTURY: A new phenomenon can be observed in Indian politics. The Hindutva slogan does not attract the voter to the BJP anymore, but state elections are more issue-based, which is the cause of the present change of government in most state elections.
Arun Shourie and Anum Taitley discussed the defeat of the BJP in the recent elections and the return of Congress and its allies to power in all major states.
Sri Lankan President Chandrika Kumaratunga gave the idea of unity in diversity in keeping South Asian countries together. She talked about the 4,000-year old civilization of South Asia, 1,750 years before Christ, introducing new religions and cultures — Ramayan and Mahabaharat — diverse cultures of Parishads — Jains and Buddha — with Sri Lanka having a mix of various ethnic groups, emphasizing the Aryan-Dravadin divide.
According to the Sri Lankan president, the effects of diversity began to appear in the colonial era, after the introduction of the principle of divide and rule — with Hindus, Muslims, Buddhists and Jain living together. Saarc was conceived as a group like the EU or Asean where 1/4 of the world’s population lives. There is a need for Human Resource Development in all South Asian countries. There is also a need for people to people contact in the region.
Safta 2006 was signed at the last Saarc summit in Islamabad. The WTO is not necessary meant for Saarc countries and the intra-Saarc trade is at present only five per cent, an issue which must be looked into. It has to be increased with an action plan for poverty alleviation in all of South Asia.
Former British prime minister John Major made certain observations about Indian achievements in the economic sector and believed the country is now competing with China. He said India should be given a seat at the Security Council.
Mukesh Ambani of Reliance, Kiran Mazumdar of Biocon, Nandan Nilankan of Infosys and Subir Raha of the ONGC were the speakers at the seminar on India and the world, while N. K. Singh was the moderator.
INDIA AND GLOBAL ECONOMY: Mukesh Ambani said that the 21st century belongs to Asian countries. The growth has shifted from 1.6 trillion to 30 trillion US dollars in the developing world and it will soon be increased to 60 trillion US dollars.
According to Kiran Mazumdar, bio-technology is the key driving force in the field of medical research.
Nandan Nilankan of Infosys, a software firm in South India, said that a migration could be seen in the villages from agricultural economy to industrial centres and services sector.
Sabir Saha believed that these days developing of a new mind-set regarding growth and dependability can be sensed.
An important question was raised during the session: what is the difference between wealth and money.
Dr Hans Blix, who was the chief weapons inspector in Iraq before the war in Iraq began, also spoke on the occasion. He said George Bush’s preemptive attack on Iraq has given way to terrorism in the country. There were no weapons of mass destruction in Iraq and added that Iran and North Korea are not a global threat, they should be left alone.
He said Iran’s security concerns must be seriously addressed and it should be allowed to become a WTO member. The European Union has created an initiative for dialogue with Iran. The US budget is the largest in the world and it must be shared with other countries.
Some other important figures that addressed the conference were Indian Minister for External Affairs Natwar Singh, Tehreek-i-Insaf chief Imran Khan, MQM chief Altaf Hussain, and former US secretary of state Henry Kissinger.
Asian countries are witnessing a new change on the economic horizon, and India seems to be doing well 
