| Biruwa |
Posted
on 29-Nov-03 09:12 AM
Following message by Vajpayee depicts reality and applies to the world at large:
"If there is a more liberal regime of free movement of businessmen and professionals between India and Europe, this demand can be met within your countries.
"In the absence of such a liberal regime, outsourcing is inevitable. If people cannot go to where the business is, business will eventually come to where the people are," he said.
The Prime Minister said India hoped to replicate its known expertise in information software technology in biotechnology and other areas, driven by "our reservoir of millions of scientists, engineers, technicians and managers.
"In fact our IITs (Indian Institutes of Technology) and IIMs (Indian Institutes of Management) have today become branded products with international recognition."
And, in an implicit criticism of the European business leaders' reservations about investing in India , the Prime Minister said though nearly 200 of Fortune 500 companies extensively used India as a research and development base, very few of these were from Europe .
EU officials, like Chris Patten, commissioner for external relations, who are attending the summit, have publicly spoken about India 's reputation of being a "hard country to do business with".
Calling for "some introspection and analysis" about India-EU trade ties, Vajpayee said while India had been careful to ensure that its liberalization measures were "non-directional" and did not target any region or group of countries, its exports were facing increasing non-tariff barriers.
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