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Growing India can help world economy: PM

Discussion in 'World Economy' started by MyRaven, Sep 24, 2011.

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  1. MyRaven

    MyRaven 2nd Lieutant FULL MEMBER

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    As the global financial crisis deepened, Prime Minister Manmohan Singh today said a fast growing India can help the world economy, around which no protectionist barriers should be erected.

    Addressing the UN General Assembly, Singh said India wants to quicken the pace of its transformation in partnership with the international community.

    "A fast growing India can expand the boundaries for the global economy," he said, adding developing countries need investment, technology and market access for their products.

    Despite global headwinds, Indian economy has been expanding close to 8 per cent, the second fastest growth in the world after China.

    In the backdrop of protectionist measures in several developed countries, Singh called upon the international community not to let economic slowdown trigger barriers to movement of people, services and capital.

    "We should not allow the global economic slowdown to become a trigger for building walls around ourselves through protectionism or erecting barriers ...," he said.

    Singh said the world economy is in trouble. "The shoots of recovery which were visible after the economic and financial crisis of 2008 have yet to blossom. In many respects the crisis has deepened even further," he said.

    The Prime Minister also highlighted the need for reform of governance systems of international financial institutions, stating "deficit in global governance" was one of the several things which can be done collectively.


    Growing India can help world economy: PM - Indian Express
     
  2. uptotrix

    uptotrix Captain SENIOR MEMBER

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    Totally agree with Mr PM, what we are seeing is the world economy balancing itself out which was long overdue. This will cause developed economies to implement protectionist policies which is counterproductive in the long run, but all of this come at the cost of spending their diplomatic currency. As far as Security Council is concerned, India's membership is inevitable- as India gets more stronger in terms of military power and economy, it'll get harder to negotiate or come to terms with India but as a part of some multi-lateral body it'll be much easier for other countries to push forward their agenda and then come to consensus.
     
  3. Tshering22

    Tshering22 Captain SENIOR MEMBER

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    First lets help our people properly and transparently and then think of the world economy. MMS speaks as if we are a $ 10 trillion economy with everyone overflowing with wealth in India.
     
  4. Hammad Khan

    Hammad Khan 2nd Lieutant FULL MEMBER

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    rofl, look at the tite, first of all it will help india to overcome the billion poverty rate and creating less indian burden on the world

    world economy rofl
     
  5. Optimist

    Optimist Lieutenant SENIOR MEMBER

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    I can smell something burning.:lol:
     
  6. Manmohan Yadav

    Manmohan Yadav Brigadier STAR MEMBER

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    :nono:
     
  7. Manmohan Yadav

    Manmohan Yadav Brigadier STAR MEMBER

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    We must 1st help ourselves, world can fend for itself.
    It has done so before, it can do it again.
     
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