India will unveil a policy of ‘pilot projects’ to counter ‘pivotal shifts’ in the global economy, President Pranab Mukherjee said in his third address to the World Economic Forum (WEF) in Davos.
According to him, India is moving towards an integrated economy where there are no barriers to trade, investment, and capital mobility.
Mukherjee, who took over as president of the BRICS group of nations at the summit on Monday, said that India’s move towards a ‘globalisation’ strategy, where India is playing a role in the international economy, will help it to realise the ‘greatest potential’ of the country.
He also said that the policy of the Indian government to move away from the ‘polarisation’ mindset has been successful.
He added that India was now a major player in the BRICs and in the world’s largest economy.
In his address, Mukherji laid out India’s new global economic strategy.
The agenda, which will be unveiled on Monday at the World Government Summit, will discuss ways to move towards an interconnected world economy.
The agenda will also consider the challenges faced by developing countries, he said.MUKHERJEE: We have a new globalisation policy, where we will create a new kind of global economy where the market is the global player, and the government plays a major role.
The policy is the same in India as in China, Brazil, Russia, South Africa, South Korea and so on.
It is the policy that will create new opportunities for India.MUSSAKH BANAYAN: There are new technologies that have emerged.
There is a big surge in connectivity.
India has the biggest infrastructure of any country.
But I think the policy is also working, and it is not only about connectivity, it is about connectivity.MUTTAR GOLCHAND: India is a globalised economy, but it is also a world-economy.
India is not the world market, but the global market.MILITARY CONGRESS: We are witnessing a globalisation that is becoming more inclusive, but I do not think this globalisation is inevitable.
There are some steps that we need to take.
We need to build a global network that can help countries to have access to the global markets, the global capital markets, so that they can compete globally.