The former ambassador to India and Australia, the Philippines and professor of management, CP Ravindranath, provide the address to the national conference on the theme “New growth cycle in the context of globalization: lessons for India Inc Shimoga to Friday.

SHIMOGA: Former ambassador to India and Australia, the Philippines and professor emeritus at the Xavier Institute of Management and Entrepreneurship, Bangalore, CP Ravindranath said Friday that prospects for India in the growth cycle arising of globalization are considerable.

“But to implement requires a mixture of politics, institution building and good governance from the government, strategic thinking and a high degree of competitiveness on the part of the economy and sustainable industry and the improving quality in that part of our education system, “he said.

It was the availability of Keynote of the national conference on “New growth cycle in the context of globalization: lessons for India Inc organized by the Department of Management studies on the Jawaharlal Nehru National College of Engineering (JNNCE).

He said: “For the economy as a whole around to make sure the most of the growth cycle for the words of economist Dani Rodik, is the combination of opportunities offered by global markets, with a national investment and institution-building strategy and the Promotion of minds pets contractor. ”

Mr. Ravindranath said that in a historical perspective, globalization can be seen as the last phase in the evolution of the world by the industrial revolution.

The story was written by globalization, are now in two colors: a color by technological developments in transportation and communication and the other by State measures, nature and how governments are intervened to reduce barriers to the flow of trade and investment worldwide.

He asked: “Now, with all this in perspective, what are the tasks for India Inc see how we opportunities and the challenges of globalization?” He said: “Given that India Inc` “Includes the government, our political class and industry, including workers, answers to this question, represent a wide range of opinions. But it should be possible to consider some projects, like we should approach the globalization and respond as well on what it promises and what he claims. ”

Mr. Ravindranath said the GDP of India, which had stagnated at 3.5 per cent in the first three decades of planning and rose to 5.5 per cent in the years 1980, had an average of 6 percent from 1992 — 93 which could be allocated for economic reforms. “But the logic of globalization dictates other reform measures in various areas ranging factor markets for restructuring the public sector and financial sector and fiscal reform,” he said.

He said that radical economic reforms without increasing the annual growth rate of 9 per cent to 10 per cent for the eradication of poverty and to achieve developed country status by the year 2020 has not been possible.

“So it is a major challenge for India Inc” to a “globalization” of the world, our willingness and capacity to implement the rest of basic economic reforms, “he added.

The assertion that the removal of economic performance would depend on our ability, except for more economic reforms, improvement of infrastructure essential to attracting more foreign direct investment and a better governance, he said that an overview of the prospects in India and in knowledge sectors of manufacturing industry in a “globalization of the economy, namely that the country is the potential force scalability capabilities. ”

The Vice-Chancellor of the University of Kuvempu, K. Chidananda Gowda, opened the conference, India has spoken in detail the strengths, weaknesses, opportunities and risks in the global economy. He said that India was amended by the third phase of globalization and said that during

India has also in the first phase of globalization, the first century AD, the establishment of its economic contacts with Rome with Kerala, a large shopping mall, but not much else to do in the second phase of globalization, between 1870 and 1914, when the British regime.

However, India must consider if the necessary political will, seize the opportunities thrown by the globalization of the world overcome its threats and vulnerabilities to achieve economic growth to strengthen, he said.

The head of the Department of Management Studies, N. Diwakar Rao, in his opening remarks, said that one of the objectives of the conference was to assess and understand the experiences of enterprises and their leaders in the new growth cycle in the context of globalization.

The president of the National Society of Education, DR Rathnakar the presidency of the Conference. The secretary of the municipality of the national education, SV Thimmaiah, published in the conference. Previously, the president of JNNCE, A.V. Subramanyam, welcomed the collection.