Economy

India can be pole of stability in uncertain world: PM

PTI New Delhi | Updated on March 18, 2011 Published on March 18, 2011

India can become a pole of stability in the uncertain world but has to show innovation and flexibility in its approaches, the Prime Minister, Dr Manmohan Singh, has said.

He stressed on the need to adapt to the shift in the balance of power and its implications.

“In many ways, India is well placed to take advantage of the changes in the balance of international forces. We can contribute to the world’s recovery from the recent financial and economic crisis,” he said addressing the India Today Conclave here today.

“We can become a pole of political stability in an uncertain world. But for all this we will need to show innovation and flexibility in our approaches,” he said.

Admitting that some inadequacies had become apparent in the systems of functioning, Dr Manmohan Singh said: “We have to deal squarely with the malaise of corruption. We need to reform and improve governance at all levels.’’

Noting that the balance was shifting between states in the global system, he said a rule-based and predictable international system was in India’s interest.

“The old order is clearly changing. A new order, however, is yet to be born. No country has a greater interest and stake than India in a rule-based and predictable international system within which we can grow and develop,” he said.

The Prime Minister said as democrat India was happy to see her brothers in West Asia and North Africa taking an increasing role in determining their own future.

“These are decisions for countries and their citizens to take for themselves, free of outside interference or coercion.

India will do what it can to support the decisions that the people and countries of the region take about their own future,” he said.

“As close neighbours and historical friends, we have a major stake in their peaceful, orderly evolution,” Dr Manmohan Singh said.

He said the G-20 has emerged as the preferred forum for global economic issues in the aftermath of the international financial crisis of 2008.

“We seek a similar evolution in the international handling of political, security and other issues and a democratisation of institutions like the United Nations Security Council to bring them in line with present day realities,” he said.

“It is important that all major powers work together to address the major economic and political challenges that face us, including those involving non-state actors. Cooperation to deal with cross border terrorism is very important,” he said.

Published on March 18, 2011
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