‘Indian diplomacy is now biz-oriented’

(April 30, New Delhi, Sri Lanka Guardian) There is a need to revamp governance system especially global institutions like IMF and World Bank, according to External Affairs Minister Pranab Mukherjee.

He was speaking at a session on India’s Foreign Policy at the Annual Day of the Confederation of Indian Industry in Delhi on Tuesday.

He said the changing global order has created new challenges in the such as terrorism, environmental degradation and proliferation of weapons of mass destruction.

‘To make sure these global challenges don’t create social upheavals there is a need to have a broad-based global strategy for economic growth to encompass all the countries,’ he said.

The ideal strategy should be to create interdependence for stake holders to get interested in mutual development, he said.

India’s foreign policy was based on values and civilisational heritage and was not aimed at territorial expansion or at exporting ideology.

He further added that commitment to non-proliferation and responsible use of nuclear technology has been corner stone of India’s global strategy.

With rapid economic growth and increased share in world trade, India has an increased stake in world economic order.

He recalled over the years India has remained active in collaborating with global partners in fight against terrorism and in the peace keeping role of the UN.

Mukherjee said India now enjoyed good relationship with global powers and was a strategic partner with almost dozen countries along with European Union.

He, however, said this strategic partnership was not at the expense of other countries. India’s trade ties with regions of SAARC, BIMSTEC, ASEAN and IBSA were improving rapidly, he noted.

On trade and commercial ties, Mukherjee said India was committed to multilateral trading system and expressed hope the ongoing Doha Round of talks would focus on development issues.

Due to massive rise in oil prices, India has to engage in oil diplomacy with countries such as Nigeria.

‘India is conscious that rapid economic growth increases demand for energy consumption and places pressure on carbon content in the atmosphere,’ Mukherjee said.

He expressed the government’s resolve to fight climate change especially through adaptation and technology transfer.

In a business driven world, Foreign Minister said Indian diplomacy was getting more ‘business oriented’ and the government’s policy was focused on securing increased trade and investment in areas of infrastructure and for securing energy supplies with access to technology.

Mukherjee also gave away CII President awards on the occasion.

Earlier Sanjiv Goenka, former-president of CII and vice-chairman, RPG Enterprises, spoke in appreciation of the Foreign Minister.
- Sri Lanka Guardian