AHMEDABAD, March 28: Endorsing the BJP-led government's `Swadeshi' spirit, Ficci president K K Modi and industrialist Rahul Bajaj on Saturday stressed the need for internal liberalisation of the economy."Globalisation is inevitable, but, it must be India, and not IMF or WTO, which should decide how to go about it," they said in close unison.
They were addressing the Gujarat Businessmen's Convention, organised by Gujarat Chamber of Commerce and Industry (GCCI) here to mark its golden jubilee. Both said there was an urgent need for greater participation between the government and industry, which had been at variance so far.
Modi set the ball rolling saying, ``India has opened up its doors seven years ago for foreign flow of funds and technology. But the West have shut theirs. They put some social clause like child labour or environment to ban entry of Indian goods. If they find nothing against us, they may one day say, `we won't accept goods produced by black-skinned people'."
He said, ``It is wrongto believe that only the West has the best. There is enough ancient wisdom and other scriptures, needed for modern management practices or good governance. The Mahabharat war could be won due to good governance by Lord Krishna"
Clad in khadi, Modi described Mahatma Gandhi as the best salesman of the world, whose khadi was sold even after 50 years of his death, despite its cost disadvantage. "What the country needs is self-pride, pride in `Made in India' products. The West knows this weakness and that is why they can sell simple pens, 20 times costlier but in no way superior to Indian ones."
Bajaj went one step ahead to whip up the `Swadeshi' spirit. He pointed out that China was not a signatory to the GATT agreement but still attracted US $ 37 billion foreign investment. India could not attract even one-tenth of it, he lamented.
"In the post-cold war era," he said, "it has become a unipolar world with the USA dictating terms. They are rich, big and strong. We cannot fight them but on behalf of hundredsof poor countries we can argue and negotiate with them. If China could not be pushed aside, why should a nation of 100 crore be cowed down by such tactics.
" Without mincing words, Bajaj said: "I told former finance ministers P Chidambaram and Manmohan Singh that we need capital but it should be on our own terms. We want foreign technology but no more for such core sectors as steel or cement, and not at all for customer goods. We have reduced tariffs on imports but advanced countries have levied anti-dumping duties. Actually, technology and not goods that should be put on OGL list."
He said economic reforms were necessary at a given point of time, but it should have been to help the indigenous industry grow to the status of MNCs. There should be at least 100 Indian MNCs by 2020, he said.
Bajaj listed greater autonmoy for PSUs, level legislations for public and private sectors, especially in the matter of `hire and fire', removing red tapism, improving infrastructure, education and medical facilities forthe last person in the country.
Incidentally, both Modi and Bajaj patted Gujarat chief minister Keshubhai Patel for mustering two-third majority. State Industries minister Suresh Mehta, in his address hinted the BJP government would involve industry's participation not just in an advisory role but also in entrusting administrative responsibilities.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
