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India showing the way: Hungarian PM

Special Correspondent

NEW DELHI: “We are using India and China’s success as an argument for encouraging new reforms shaping our own economies and societies,” Hungary Prime Minister Ferenc Gyurcsany said on Wednesday.

Addressing the inaugural session of a Partnership Summit 2008 in Gurgaon, Haryana, he said India’s success in preserving its diverse culture, history and national pride and, in parallel, modernising itself was a source of encouragement to European economies.

Both India and Hungary benefited from globalisation. In the last five years, the foreign trade turnover between them had tripled. Opportunities for trade and investment existed in the energy, food processing and information and technology sectors, he said.

Union Minister for Commerce and Industry Kamal Nath said paring income diversities was the biggest challenge for India. The country today had 300 million people living on less than $1 a day. This was more than the number of people put together for all LDCs (Least Developed Countries).

With globalisation “the issues of inclusive growth transcend national boundaries,” and hence partnerships between the countries were important to address the challenge.

Multilateral agreements had to ensure inclusive growth in developing economies. A good WTO agreement was one which led to healthy economies in developing countries.

Chief Minister Bhupinder Singh Hooda said Haryana evolved an investor-friendly industrial policy aimed at achieving global competitiveness. Bold initiatives had been undertaken and the process would continue through public-private participation in infrastructure projects, and the core sectors of power, education and technical education.

Launches portal

The Chief Minister launched the Haryana Industry Portal and announced setting up of an exposition-cum-convention centre in the State, in collaboration with the Union Ministry of Commerce and Industry and the Confederation of Indian Industry.

The CII and Mr. Kamal Nath welcomed the proposal. He announced Rs. 15 crore in financial support from his Ministry for the convention centre.

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