New Delhi, Mar 9 (UNI) In the era of globalisation, questions of free movement of labour and ideas must be addressed for free trade in goods and services and capital to maintain the high levels of growth rate, Secretary Department of Industrial Policy and Promotion (DIPP), Ajay Dua said today.
''These questions must be addressed at the earliest for free trade, else the developed world will not be able to maintain the current high levels of growth and affluence '' Dr Dua told reporters here at the 76th Annual General Meeting of ICC-India.
The uneven spread of the gains of globalisation can be redressed only by liberalising the movement of labour and knowledge, Dr Dua said, adding that if this did not happen, the entire process runs the risk of being derailed as demands for protectionism become shriller and trade policies become restrictive rather than facilitatory.
Dr Dua said the developing countries, including India, would have to focus on enhancing the skills of their ever-increasing workforce through private sector involvement so that skills get contemporised and labour remains competitive.
Alluding to the inevitability of free movement of ideas, Dr Dua said global growth that spreads the gains to all will have to witness a sea change in technology transfer across nations, else farming out of productive activities to labour surplus nations will suffer.
Increasingly, the world will realise and relent on protection of ideas and knowledge which are today guarded by IPR, technical fees and royalty, he said.
ICC-India President Y K Modi said the next wave of globalisation would be marked by deeper integration of the world economy through trade, flows of information technology, finance and migration. These will offer renewed and enhanced opportunities to increase productivity and raise incomes.
In this context, Mr Modi underscored the need for creation of new opportunities for the poor through investments in education, training of unskilled manpower, and investments to overcome bottlenecks in infrastructure and health.
UNI
''These questions must be addressed at the earliest for free trade, else the developed world will not be able to maintain the current high levels of growth and affluence '' Dr Dua told reporters here at the 76th Annual General Meeting of ICC-India.
The uneven spread of the gains of globalisation can be redressed only by liberalising the movement of labour and knowledge, Dr Dua said, adding that if this did not happen, the entire process runs the risk of being derailed as demands for protectionism become shriller and trade policies become restrictive rather than facilitatory.
Dr Dua said the developing countries, including India, would have to focus on enhancing the skills of their ever-increasing workforce through private sector involvement so that skills get contemporised and labour remains competitive.
Alluding to the inevitability of free movement of ideas, Dr Dua said global growth that spreads the gains to all will have to witness a sea change in technology transfer across nations, else farming out of productive activities to labour surplus nations will suffer.
Increasingly, the world will realise and relent on protection of ideas and knowledge which are today guarded by IPR, technical fees and royalty, he said.
ICC-India President Y K Modi said the next wave of globalisation would be marked by deeper integration of the world economy through trade, flows of information technology, finance and migration. These will offer renewed and enhanced opportunities to increase productivity and raise incomes.
In this context, Mr Modi underscored the need for creation of new opportunities for the poor through investments in education, training of unskilled manpower, and investments to overcome bottlenecks in infrastructure and health.
UNI
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