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Lord Paul allays globalisation fears

india Updated: Sep 29, 2006 20:44 IST
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LONDON-BASED NRI industrialist Lord Swraj Paul today said here that India has nothing to fear from globalisation. “I have a strong feeling that India has gained and will continue to gain from globalisation than any other country in the world.”

Lord Paul was delivering an address on “India Inc on Global Stage” organised by Confederation of Indian Industry (CII) at Hotel Fortune Landmark attended among others by State Industry Minister Babulal Gaur, Caparo Group CEO and Lord Paul’s son Angad Paul, top industrialists, academicians and senior government officials.

Asserting that Indians have a lot of potential, Lord Paul said in the UK Indians are 2 per cent of population but contribute 5 per cent to GDP. In the US, Indian community has highest per capita income. “The point I am trying to make is that we have the capability and spirit to be at the top of the world.”

Lord Paul said, “I keep telling the British Government that you cannot stop the Indians” and added in a lighter vein that it is another matter that for decades it was the Indian Government which had put the brakes on progress of Indians.
He said post-liberalisation India Incorporated has taken giant strides and nothing will stop it from becoming a global power.

Emphasising that India had nothing to fear from competition, Lord Paul said, “we have a place in the world, which we must harness and we should not be afraid of competition. Competition will only improve us and make us more quality conscious.”
He, however, added a word of caution saying that it will now be survival of the fittest.

A case in point, he said, was Indian IT industry which has fared so well over the years that it has made its impact even in developed countries like the US and UK.

Talking about India’s weaknesses, Lord Paul deplored the fact that 30 per cent of Indian children get no education. He said that rapid industrialisation does not mean ignoring the poor sections of society and expecting the government to take care of them. “People have to look after weaker sections of society and education has a very important role in upliftment of society. Health care is another area where India needs to make a lot of progress.”

Lord Paul praised State Industry Minister Babulal Gaur for industrial progress of State in general and Indore region in particular.

Earlier, past chairman CII MP State Council, Vipin Mullick delivered a welcome address.