'India in good position to benefit from globalisation'
India is in a good position to reap the benefits of globalisation with its outward-oriented policies, Planning Commission member Anwar-Ul Hooda said.
By PTI |
KOCHI: India is in a good position to reap the benefits of globalisation with its outward-oriented policies, Planning Commission member Anwar-Ul Hooda said here on Monday.
"To maximise the benefits from globalisation, it is necessary to understand the link between openness and growth," he said delivering the Revi Karunakaran Memorial Lecture on "Global scenario of coir industry-risk and threat, analysis and opportunities."
As a result of lowering of barriers to trade and investment, globalisation of the Indian economy had made considerable progress. Its exports of merchandise had been growing at a rate of 20 per cent or more in value terms during the last four or five years, he said.
However, liberalisation had also exposed India to some risks, particularly in agriculture, he said.
Firstly, the phenomenon of volatily of global prices of agricultural commodities, which would be transmitted directly into the country. Secondly, high levels of domestic support of agriculture in developed economies exacerbated the situation for temperate zone agricultural products.
The liberalisation of telecommunications, which increased its efficiency contributed considerbaly to the exports of IT software and services from the country.
"To maximise the benefits from globalisation, it is necessary to understand the link between openness and growth," he said delivering the Revi Karunakaran Memorial Lecture on "Global scenario of coir industry-risk and threat, analysis and opportunities."
As a result of lowering of barriers to trade and investment, globalisation of the Indian economy had made considerable progress. Its exports of merchandise had been growing at a rate of 20 per cent or more in value terms during the last four or five years, he said.
However, liberalisation had also exposed India to some risks, particularly in agriculture, he said.
Firstly, the phenomenon of volatily of global prices of agricultural commodities, which would be transmitted directly into the country. Secondly, high levels of domestic support of agriculture in developed economies exacerbated the situation for temperate zone agricultural products.
The liberalisation of telecommunications, which increased its efficiency contributed considerbaly to the exports of IT software and services from the country.
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