Portugal President calls for equitable growth to avoid blacklash

Bangalore, Jan 17 (UNI) Portuguese Republic President Anibal Cavaco Silva today called for appropriate global policies to ensure equitable growth, ensuring everyone benefit from globalisation.

Inaugurating the 13th CII Partnership Summit here he referred to the poor people left behind in the globalistion process and said ''we should be able to design policies, both at the national and global levels, aimed at distributing more fairly the benefits from the integration of national economies''. Countries affected should have an effective voice, he added.

''If we do not do so, we risk social unrest and even a backlash, in the form of protectionist policies,'' he said adding that it would be unfortunate if the current intensity in internationalt trade and dialogue were to be replaced by more isolationist approaches to development and growth. Most of the issues posed by globalisation were challenges for political around the world to improve the quality of their domestic policies. ''Others may need to be managed at global scale, particularly through increased coordination among national governments,'' he added.

He said efficiency and equity goals could be jointly pursued with economic policies incorporating the poor in the growth process through mesures that improve education, training, health and infrastructure.

Referring to the Indian success story, he said from a land of contrasts and diversity, India has now emerged a country of hope and success. ''Today we regard India as a place where the future is being shaped: a land of bright people, of new technologies, research, innovation and cutting edge industries.'' Stating that the world had not yet fully captured the signifance of changes in India, he said, in Europe and the US, the emergence of Indian companies as investors or acquirers is still viewed with a mixture of surprise and suspicion. I am sure that this summit and its global visibility and relevance are also a tribute to the success of India's corporation.

Terming India as a major engine of growth he lauded the sustained economic growth of the country and said very soon India would become the third largest economy in the world, measured in purchasing power parity terms. ''So those notion that India, as the theme of the summit suggests, needs to understand the scope of its new roles and responsibilities is very appropriate.'' UNI VK-RS MSP PV GC1252