PM’s Davos address

Narendra Modi became the first Indian Prime Minister to address the World Economic Forum’s annual summit in Davos, Switzerland. The significance of this summit is that the financial crisis has overtaken the entire world. On the one hand the task of economic and financial reconstruction is looking straight into our eyes and on the other peace and stability which are the pre-requisites of development are under grave threat. He said that looming clouds of mistrust and suspicion among some world powers could escalate and turn into grave threat for our future generations. It is in this dreary background that India speaks out bold and loud to the world community to realize that divisive tendencies would strengthen the enemies of freedom, peace and stability.
Modi has very rightly and plainly said that many countries were becoming inward focused and globalization is shrinking and such tendencies can’t be considered lesser risk than terrorism or climate change. Days of protectionism are gone and this is the age of cooperation and collaboration. Selling the Indian free market approach to the world community, Modi assured investors that India was the destination where they can invest, make and export with as much ease and freedom as they expect. The reason, the Prime Minister went on to say was that India believed in the concept of world family and not in separate segments. India was bound to emerge as world centre of economy in just a couple of years given peace and progress environ in which humanity must live.
As was expected, Modi did not miss the opportunity of unleashing his criticism of terrorism as the one most important threat to the world community. He went a step further this time and said that worse than that was the concept of good and bad terrorists which had no meaning. Apart from terrorism, he identified world climate change as the next serious threat to humanity. He explained that we were witnessing serious climatic changes now looking straight into our face. Therefore in situations like climatic change, or international terrorism or shrinking globalization etc. it was important that the world community forges closer ties and cooperation to fight these menaces together with the sole purpose of giving our new generations the atmosphere of peace and tranquility.
In the context of the theme of this year’s summit ‘Creating a Shared Future in a Fractured World’; Modi has rightly said that the theme was relevant for him as Indians have always believed in uniting and not dividing people. There are many questions before us that require answer for generations to come. Is the existing international system promoting fractures and rift in this world? Can we remove these rifts and distances to make a good shared future?.
Prime Minister made good use of the opportunity of addressing the world forum for investment in India. India provided vast opportunities for world corporate to invest and to open new production opportunities. India had embarked on liberalization policy and the paper work and obsolete rules of investment were done away with. India is a very progressive and forward looking country that is in favour of free commercial relations with all countries in the world.
We must try to understand the fundamentals of India’s policy of foreign investment towards which the Prime Minister has hinted at during his address to the WEF. India has opened its door for the investment but she does not support one-sided affair. Make in India stipulates that foreign companies should invest in India, collaborate with India, share technology and market. We know that transfer of technology is somewhat a ticklish issue for some of the developed countries but the way out would be ‘Make in India’. In an overall assessment we can say that Prime Minister has been able to convey the basics of India’s economic policy for next few decades. The world will have to listen to India because she is an emerging economic power along with other powers of the world.

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