Insulate Indian economy from globalisations risks: Pranab

New Delhi, Nov 7: Calling for insulation of Indian economy from the risks of globalisation, External Affairs Minister Pranab Mukherjee today spelt out a six-point strategy for achieving double digit growth.

It was essential to ensure that India derived the ''maximum benefits'' of globalisation and yet its economy remained insulated from the risks that were quite inherent to globalisation, Mr Mukherjee said in his valedictory address at the International Conference on ''India and the Global Economy,'' organised by the Indian Council for Research on International Economic Relations (ICRIER) here.

''For a developing country like India, as is true for many other developing countries, perhaps the greatest challenge is to deal with the phenomena of globalisation,'' he said.

It was also necessary to be cautious that in this delicate process, there is no backlash against globalisation. In short, management of the process is a quintessential requirement, he said.

While the debate on the subject continued, it was also a reality that India was inexorably engaged in the process of globalisation, he observed.

Outlining the measures required for achieving over 10 per cent growth, he said there was an urgent need for stepping up investment in infrastructure through greater public-private partnership and FDI.

The other components that would accelerate the growth rate included access to quality education for all, investment in R and D, energy security, greater global economic integration and a proactive role by India in the multilateral economic processes.

UNI

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