(a) whether an Indian delegation participated in World
Economic Forum in Davos recently;
(b) if so, the details of the discussions held;
(c) the outcome thereof;
(d) the Indian stand against industrialised nations for the `Unfair` globalisation process which led to `win-lose`
situation for developing countries; and
(e) the response of the participants on India`s stand?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI BALASAHEB VIKHE PATIL)
(a), (b) & (c) The 31st Annual Meeting of the World
Economic Forum took place in Davos, in Switzerland
from January 25 to 30, 2001. The official Indian
participation at the Forum comprised the Union Finance
Minister and the Chief Ministers of Andhra Pradesh
and Madhya Pradesh. A large number of representatives
from the Indian industry and several Indian academicians
also participated in the discussions.
The discussions focussed mainly on strengthening
conditions for global growth particularly in the
developing world, social environmental sustainability,
international security and peacekeeping systems,
reduction of technical, economic and social disparities,
improvement in the global health and nutrition, promoting
human rights and democratic values and safeguarding
cultural identity in an increasingly homogenised world.
(d) & (e) The Union Finance Minister
pointed out that the real challenge of globalisation was
to transform into real benefits, the theoretical benefits,
which were supposed to flow from globalisation. He explained
that globalisation could not be achieved in an unequal world
and there were enduring double standards in the creation of
sustainable growth. He criticised the indifference of
developed nations to the strengths of the developing
countries, particularly India, and mentioned that while
developing countries have opened up their markets, the
advanced nations were keeping their markets off-limits
through high tariffs and other barriers. He highlighted
that the process of growth must be recast around the
principles of equal opportunities. The Indian views and
intervention during the various sessions were well received
and favourably commented upon.