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Globalisation has its uses, says B.K. Chandrashekar

In the right perspective: Chairman of the Legislative Council B.K. Chandrashekar addressing a gathering in Chitradurga on Friday.

Chitradurga: Chairman of the Legislative Council B.K. Chandrashekar has said that despite divergent opinions on globalisation, it should not be opposed blindly.

Speaking after releasing a book titled “Impact of Globalisation on the Rural Sector”, authored by G.N. Mallikarjun, here on Friday, he said the concept of globalisation had come under sharp criticism owing to some of its crucial aspects, such as the framing of policies in accordance with those of Western nations.

Powerful multinational companies played a great role in the formulation of policies, which necessarily included prioritisation of interests, he said.

This aspect had further widened the rich-poor divide. However, he said globalisation had brought about economic liberty as well and led to a reduction in the prices of various products. Mr. Chandrashekar called for a critical analysis of globalisation to identify its positive and negative aspects. The effects of globalisation were varied, based on the socio-economic conditions of the country in question, he said, and added that complete opposition to the concept would not be favourable to the cause of development. He said the very objective of globalisation was to bring different countries together through economic activities. Several East Asian countries had achieved economic prosperity owing to the acceptance of globalisation.

This was possible only by lifting restrictions on import-export policies, allowing foreign exchange and easing of tax norms. On the issue of small-scale industries, he said, owing to the lack of sound financial policies, the sector, which had given huge employment opportunities to people from rural areas, had been sidelined.

He said a fine balance should be struck between subsidies offered to such industries without making them dependent on it.

“The sector should be made self-sustainable for it to compete globally.”

He emphasised the need for education and training to help solidify the sector. T.R. Chandrashekar, Lecturer in the Department of Development, Hampi University, in his appraisal of the book, said it had mainly highlighted the status of weavers of Chitradurga district and offered important suggestions on methods to help them enter the mainstream.

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