The Hindu : Andhra Pradesh News : Youth told to help build stronger India

Online edition of India's National Newspaper
Saturday, Dec 29, 2007
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Andhra Pradesh

Andhra Pradesh

Youth told to help build stronger India

Staff Reporter

The Hindu Businessline Club Talk on globalisation challenges

Sage advice: Coastal Local Area bank Limited MD V. Jaganmohan speaking at The Hindu Businessline Club Talk on ‘Globalisation, Challenges and Opportunities at Narsaraopet Engineering College on Friday at Narsaraopet.

NARSARAOPET: Well-educated youth must build their careers in such a way that they could help build an economically, culturally and ethically stronger India, Coastal Local Area Bank Managing Director V. Jagan Mohan has said.

Addressing students of Narsaraopet Engineering College as part of The Hindu Businessline Club Talk on the college premises on Friday, Mr. Jagan Mohan enlightened the students on the contemporary issues of globalization and its pros and cons, its relevance to India.

He wanted the students to understand the realty of globalization, country’s position in relation to world nations and carve out a role for themselves in the whole gamut of issues related to international business or intellectual property rights. Globalization did not start 20 years ago, when the capital controls around the world began to be lifted not 50 years ago, when the multilateral discussions on trade were launched.

Dwelling in the history of globalization he quoted Jean Claude Trichet, President of Europe Central Bank as saying that India was as much part of the global process from its historical outset, as much as it is part of today. “Globalization is the ability to source capital from anywhere in the world where it is the cheapest, to obtain technology from anywhere in the world where it is the best, to have the capacity to make products in the world where it can be done more efficiently and to sell anywhere in the world that offers the price, is how Finance Minister P. Chidambaram described.”

The Coastal Bank Managing Director opined that now there were more solutions than problems and global economy was now knowledge economy. Inclusive growth with equity was the order of the day. “World is looking at India as a factory of knowledgable human resources. We are largest democratic nation with youngest population,” he observed and said that country’s aim was growth at 9 per cent to 10 per cent for next two decades.

Introductory remarks were given by the The Hindu Regional General Manager K. Chandrasekaran, while college chairman M. Koteswara Rao and Principal B.V. Rammohan Rao also participated in the event.

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