Top Story

e4m_logo.png

Home >> Media - Others >> Article

It would be a fallacy to describe India as a poor country: P Chidambaram

15-April-2006
Font Size   16
It would be a fallacy to describe India as a poor country: P Chidambaram

Union Finance Minister, P Chidambaram, has called for convergence among political parties on economic issues in the interest of overall development. “We can have all the politicking on other issues like caste, religion, etc, but when it comes to economic issues there must a convergence,” he said here on Wednesday.

Delivering a public lecture in Nagpur at an interactive session hosted by the Lokmat Group of Newspapers, Chidambaram busted the myth that India is a poor country. “Who says that India is a poor country? Yes, there are poor people in India. But it would be a fallacy to describe India as a poor country. It is a richly endowed country,” he posited while enlisting India’s mineral wealth, its natural resources, its rich human resource talent base among other assets.

“India has become the most favoured destination for investors because people the world over feel that they can trust India. They feel that they can do business with India. In the last 18 months, there has been an investment boom in India, and I am committed to ensure that this boom continues,” he added.

The tone for the Union Finance Minister’s 40-minute instructive narrative on the economy was set by the introductory remarks from Vijay Darda, Rajya Sabha member and Chairman and Managing Director of Lokmat Group of Newspapers. Chidambaram described these remarks as “provocative” and then took care to respond to all the issues that were raised by Darda.

In his introductory remarks, Darda underscored the problems of the growing economy as reflected in the income disparities and the rural-urban divide. He also called for the need to develop a political consensus on economic issues so that the process of economic development continues unhindered.

Tags

Vijay Mansukhani, speaks to exchange4media about the resurgence of Onida, the scope of growth of consumer electronics market in India and the reasons why Indian consumer electronics brands don’t compete on a global scale

Projjol Banerjea opens up about hiring Anne Macdonald and GroupM's Rob Norman, and the brand's new identity

Meera Iyer tells exchange4media that in FY 2016/17, bigbasket clocked a revenue of Rs 1,400 crore. The online supermarket currently stands at 70,000 orders a day, with operations in 25 cities.

CMO, Kashyap Vadapalli on the start-up’s marketing play, why it has decided to stay away from IPL and response to its furniture rental apps

Projjol Banerjea opens up about hiring Anne Macdonald and GroupM's Rob Norman, and the brand's new identity

CMO, Kashyap Vadapalli on the start-up’s marketing play, why it has decided to stay away from IPL and response to its furniture rental apps

The aim is to advance the company’s goal of simplifying its business and drive deeper service connectivity to its clients