Financial Daily from THE HINDU group of publications
Sunday, Nov 20, 2005
Financial Daily from THE HINDU group of publications Sunday, Nov 20, 2005 |
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Industry & Economy
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Foreign Trade `Speed up SAARC energy sector reform' Our Bureau
New Delhi , Nov. 19 TRADE between India and Pakistan could grow to as much as $6-10 billion a year with a liberal trade regime, said Mr Praful Patel, Vice-President-South Asia, World Bank. In order to benefit from regional trade, SAARC nations would have to accelerate reform of their national energy sectors by better regulation and corporate governance, cost reflective pricing of energy, non-distorting subsidy policies and non-discriminatory access to transmission grids and to end consumers, he said. He was speaking at the concluding day of the SAARC Business Leaders Conclave. Dr Krishna Ella, CMD, Bharat Biotech International Ltd, stressed the need for innovation that would spur higher GDP growth. It would help the SAARC nations to develop faster. He said many companies were market-driven and not R&D-driven. "Conceptually we are going wrong," said Dr Ella.
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