Chidambaram delivered the valedictory address of a two-day conference, which also marked the society's golden jubilee celebrations at Bhaidas Hall today.He said the flows of capital technology and human resources were inexorable and unstoppable and added that Indians should shed the mentality of different standards - those that will do for India as against those that will do for global business - and think only in terms of global standards.

``You're not competing only with your neighbours, you are now competing with the whole world,'' he told the 850-odd Chartered Accountants after a day of stimulating technical sessions on the challenges for the profession in the new millennium. The former finance minister spoke on `Globalisation: Laissez Faire orSelective Protection'. He said the capital goes from one country to another, in fact, it goes wherever the returns are higher.

He said US dollar 350 billion was jostling for parking space. Last year, of the $ 60 billion that Asia got, $ 40 billion went to China while India got only 3.2 billion. India needed to view the world as its market, to build world-sized industrial plants and to free its agriculture from all controls.