we must walk on two legs - PM at the India-EU Business Summit

By Vijay Kumar

• I have always believed with Lord Keynes that, “in the final analysis businessmen are the custodians of the possibility of survival of human civilization”

• If business leaders think right, I think our societies and our polities can look to the future with hope and confidence.

• We live in a world of constant change and the success belongs to those who are adept at mastering processes of change

• Do not be too fearful of change. Learn to live with change, though of course governments have the responsibility to smoothen the processes of change, smoothen the transitional pain that may at some times accompany the processes of change.

• The terrorist attacks on July 7 this year in London are an unfortunate affirmation of our view that terrorism, by whatever name, can have no place in a civilized society

• One of the aims of terrorism is to cause economic instability all round.

• It is now possible, as never before, for us to visualise an India without poverty, without disease and without scourge of extreme deprivation

• I am convinced that ‘positive expectations have a way of yielding positive outcomes’.

• I have often said that we must walk on two legs – pursuing greater efficiency and simultaneously pursuing greater equity in the working of the economy.

• For my generation, Europe was the natural destination for students, scholars, travellers and artists. I believe this is no longer the case. Perhaps, this is understandable, as we in India reach out to new friends in new continents and re-discover our ancient links with other countries of Asia

• I believe there is a perception in Indian trade and industry circles that the European market is becoming increasingly difficult to penetrate.

• As tariff barriers disintegrate, our industry complains that non-tariff barriers suddenly come up.

• India is one of the largest producers of agricultural commodities - fruits, vegetables, poultry and meat products, the famous ‘Basmati’ rice and the equally famous Darjeeling tea – and we have comparative advantage in this sector, apart from in the more modern sectors

• I am convinced our destiny and our salvation lies in closer involvement with the evolving global economy

• Our centres of higher education and learning have created, fortunately, a vast reservoir of world-class skilled and trained professionals.

• And over half our population is below the age of 25 years

Shhhhhhhh – left is listening