Digitalisation and globalisation have 'democratised business': Indonesian president

MUMBAI: Indonesian president Joko Widodo hailed digitalisation and globalization as he said that these two elements have “democratized business”.

Speaking at the first Indian Ocean Rim Association Summit held in Jakarta, Indonesia, today, Widodo said, “There are many challenges in the IOR region but businesses should see these as opportunities. Government, he said, should minimise their involvement in business activities and restrict themselves to creating an enabling policy environment and infrastructure - both physical and digital.”

The theme of the summit was ‘Strenthening Maritime Cooperation for a Peaceful, Stable and Prosperous Indian Ocean’.

Jacob Zuma, president of South Africa said that oceans as a unifying force in IOR and a significant source of food and energy security should be safeguarded and used sustainably for economic development. The president of Mozambique highlighted the potential for tourism as a catalyst for economic development in the region.

Both globalisation and digitalisation have been buzz words in the recent past. As international trends like Brexit and the election of Donald Trump as the president of the United States have validated a germinating need of modern nations to look inwards, experts the world over fear that globalisation is under threat. Digitalisation, on the under hand, has been the flagship intention of Narendra Modi's government in India.

With the recent cash ban which contained an accentuated discourse on going digital, experts are divided in their support for the same, citing the enormous digital illiteracy in India.