The Hindu Business Line : We must learn to cope with globalisation: PM

Government will be expected to step in and provide a range of services including law and order, internal and external security, provision of basic education, public health and basic medical care and the protection of environment, among others.

BRAIN TRUST: (from left), Lord Meghnad Desai, Prof Amartya Sen and Prof Joseph Stiglitz at a national seminar on `Making globalisation work: An Indian perspective', in the Capital on Monday. - Kamal Narang

New Delhi , Dec. 18

The Prime Minister, Dr Manmohan Singh, on Monday said that the challenge before scholars and political leaders was to minimise the disruptive and contentious aspects of globalisation and maximise its benefits especially for those who are still outside the pale of development.

Delivering the inaugural address at a national seminar on `Making Globalisation Work: An Indian perspective', Dr Singh said that neither the developed nor the developing economies could afford to either ignore or reject globalisation.

"These are not realistic options. Rather, we must learn to deal with it, cope with it and manage it. We have to manage both the economics and the politics of globalisation... Besides, we must also manage its cultural and intellectual consequences that have to be managed in a democratic manner. And when we talk of democratising global governance, we must also accept the obligation of democratising national and local governance," Dr Singh said. The seminar had been jointly organised by the Federation of Indian Chambers of Commerce and Industry and Shri Ram Centre for Industrial Relations and Human Resources.

The Prime Minister was of the opinion that the management of globalisation in a multi-polar world faced with multiple global challenges, required greater global and regional cooperation and coordination, which in turn required global and regional institutions capable of helping nations work with one another.

"To function effectively, such institutions need rules of the game that have been arrived at consensually. This is the challenge facing political leaders across the world. Europe has shown the way in trying to manage change within a regional context. It must now learn to deal with change at a global level as developing countries seek more opportunities. In Asia too we need regional institutions that will enable us to deal with regional challenges and opportunities. While regional associations and arrangements are here to stay, we cannot neglect the need to strengthen global institutions and multilateral arrangements," Dr Singh said.

The Prime Minister, however, felt that even in a wholly globalised and integrated world states had a role to play. "People in democratic societies expect Governments to deliver on their basic needs, both economic and social. While the private sector will increase its role and bring prosperity to newer generations of entrepreneurs, professionals and workers, the Government will be expected to step in and provide a range of services including law and order, internal and external security, provision of basic education, public health and basic medical care and the protection of environment, among others."

Dr Singh emphasised that there was a need to find ways in which trade aids development to ensure that globalisation works for all and added that this was the challenge before the leadership of the developed world.