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| Tuesday, 30 November 2004 |
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India as the "rising economic sun of the East" by Lynn Ockersz India calls it 'Look East'. Through this initiative she hopes to continue her quest of being a dynamic driving force in global economic growth.
The event chosen by the Indian political leadership in this connection to signify the country's on-going entry into the "synergies" of world economic growth was poignantly symbolic. It was a motor car rally which was flagged off by none other than Indian Prime Minister Manmohan Singh from Guwahati in India's troubled North-Eastern state of Assam. The rally will traverse some of India's eastern neighbours and reach Vientiane in Laos where the 10-member Association of South-East Asian Nations is gathering for a summit with the participation of China - now clichetically described as an economic "powerhouse" of the world. In fact the ASEAN 10 are due to sign a series of economic agreements with China at this meet, aimed at eventually "setting up the world's largest free trade area by the end of the decade." India aims to be part of this economic transformation through a process of integrating her economy more closely with those of her eastern neighbours who are already thus contributing towards this dynamic economic growth process. Hence the title 'Look East'. India hopes to open up to the East on a number of fronts in this long-term program of being an important contributor to global economic growth and this ground-breaking policy thrust is fitted with the matching title 'Look East'. Premier Manmohan Singh was reported as telling huge crowds which gathered at the start of the motor rally that, "This car rally is intended to rediscover the essential 'oneness' that binds India with its Asian neighbours." This is a substantial reorientation of India's international relations. Despite being weighed down by poverty among the majority of her population, India is in the process of adopting what may be called a "forward looking" policy which seeks to exploit proliferating opportunities for economic growth which may hopefully result in her lightening the poverty yoke among her people and make her a global front-runner in the world economic growth process. This is quite a change for a Congress-led government which is traditionally associated with a more inward-looking economic development strategy. The Congress has for long been associated with the socialist model of development which necessitated a substantial de-linking with the world economy. However, the Manmohan Singh administration has, perhaps, chosen to take off from where the last Congress government left off in the early nineties when Manmohan Singh himself as Finance Minister at that time in a government headed by Narasimha Rao, launched India's economic liberalisation program. This growth strategy was, however, continued enthusiastically by the BJP -led administrations which ruled India from the mid-nineties until six months ago, at regular intervals. So, there is a steady continuation of economic policy under these varied administrations. Meanwhile, India is emphatically projecting herself as an Asian growth centre, which could adequately measure up to China - her perceived rival for regional influence. In fact, most Asiatic eyes are likely to be on China, for, she has thus far proved that it is possible to retain the essential pillars of a socialist state while introducing economic liberalization measures in degrees. However, the indications are that India would be engaging the power centres of the world, on a number of fronts, including the economic, in a strong bid to go beyond the status of a regional power. |
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