Fruits of globalisation should be shared by one and all: Prez

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Mumbai, Jun 26 (UNI) President Pratibha Devisingh Patil today said the process of globalisation should be inclusive enough to benefit all sections of society.

Inaugurating the International Conference on ''Responsibility to the Future: Business, Peace and Sustainability'' here, Ms Patil said ''Two per cent of the world's richest people own more than half of the world's wealth, while the poorest 50 per cent of people own just one per cent.'' ''Correcting disparities would also mean looking at womens' issues. They constitute half of the world but their potential remains largely untapped,'' observed the first women President of India. She said without women's empowerment and their participation in all areas of human activity, there cannot be sustainability in any sphere of human endeavour.

Ms Patil also called for restructuring of world institutions to the present day needs. She said, the United Nations and the Bretton Woods institutions like the World Bank and the IMF were set up in the post second world war period, reflecting the aspirations of the then world. ''That world has changed and these institutions must also change to reflect the realities of the contemporary world, making them more democratic and representative, giving greater voice for the developing world,'' Ms Patil added.

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