The Hindu : Business : Long-term measures urged for economic stability

Online edition of India's National Newspaper
Tuesday, Sep 27, 2005

Business

Business

Long-term measures urged for economic stability

Staff Reporter

Globalisation has opened up several new opportunities to Indian industry, says Governor.

KOCHI: Governor of Kerala R.L. Bhatia has called for long-term measures for realising economic stability and said: "short-term packages and skin-deep prescriptions may be handy to tide over a crisis or two, but not to resolve any crucial problem in the long run."

The Governor was inaugurating the 108th annual session of the Indian Chamber of Commerce and Industry here on Monday.

"If India is to achieve progress and hit it high on par with the advanced countries of the world, it has to focus on economic stability, first and foremost. Unless we fix the target right, set our priorities intact and surge ahead, we will be relegated to the back seat," he told the gathering.

He also said that ethical norms and codes of conduct were not things just to talk about but to be practised in right earnest. No progress, worth its name, can afford to ignore the common man who sweats it out, he added.

The Governor, referring to globalisation, said that the process had opened up several new avenues to the Indian industry as well as new opportunities and set fresh goals. At the same time, he said, "we cannot claim to be prosperous unless and until we bring a smile of joy on the weary face of the average Indian."

President of the Indian Chamber K. S. Sabu said in his welcome address that Kerala, well-known as `God's Own Country,' was unique in several aspects endowed with abundant natural beauty and splendour and with reasonably good infrastructure.

However, it remained a bit of a riddle as to why despite the favourable conditions the State had it lagged in industrial development. Mr. Sabu said that the Indian Chamber had been using every forum to raise the issue of this slow industrial development and expressed happiness that the industrial climate in the State was changing for the better.

Industries Minister V. K. Ebrahim Kunju, who was the guest of honour, and Sebastian Paul, MP, also addressed the gathering. Balagopala B. Pai, vice-president of the Indian Chamber, proposed a vote of thanks.

The ICCI Export Awards, K. R. Mehta Memorial Prizes and a Memento to the outgoing President, were presented at the meeting by the Chief Guest.

Rajan Cashew Company, Kollam, D. C. Mills Pvt. Ltd, Alappuzha, Abad Fisheries, Kochi, Kishor Spices Co., Kochi and KLF Oil Industries, Irinjalakuda, won the awards for excellent export performance during 2004-2005.

The winners of the K. R. Mehta Memorial Inter-Collegiate Essay Competition were: V. Gayalakshmi, St. Teresa's College, Ernakulam, Hariprasad R. C., Sacred Heart College, Thevara and Ashwathy Menon, SRBS, Gujarati College, Mattancherry.

Printer friendly page
Send this article to Friends by E-Mail

Business