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This is an archive article published on November 1, 2003

Hasten slowly on globalisation

Globalisation is great. So are free trade agreements or FTAs. We are opening up our economy in right earnest. We already have FTAs with Nepa...

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Globalisation is great. So are free trade agreements or FTAs. We are opening up our economy in right earnest. We already have FTAs with Nepal and Sri Lanka, while negotiations are on with Asean countries. So far Thailand and Singapore are concerned, talks are at an advanced stage.

Now pause a while and ponder. We must free our economy but we must also be fair to ourselves. We must eventually expose domestic industry to global competition but should we push it underprepared? If we decide to take on the world unprepared, chances are we won’t survive for a second bout. Such a knockout would dampen our growth indices and overall investment. It would lead to further unemployment.

We have to be practical. In the 2004-05 budget, we must strike that critical balance between openness and protectionism. The Cancun experience has taught us how cut-throat (read: shameless) the tenets of global competition can be.

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The rich will never compromise their advantage or dilute protectionism when it comes to their farmers or other vulnerable sectors. Similarly, we have to offer some insulation to domestic industry for the next few years.

Consider steel. All major steel producing nations, including the US, safeguard their domestic sector. It is essential we too do so. At present, our protection against steel imports is not high. The landed price of imported steel, with 25 per cent basic duty, is less than the ex factory price in India. If we slash the prevailing 25 per cent duty, it can spell doom for local producers.

Led by Commerce Minister Arun Jaitley India resisted the arrogance of the affluent nations at Cancun. India’s message to the world should be clear: we will definitely play ball but not by somebody else’s rules.

Selecting the super sleuth

Come December and one of India’s most powerful offices will see a new occupant. The CBI director’s job will fall vacant and already names of contenders are doing the rounds.

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Rich experience in investigation is a must. So is integrity and managerial efficiency. The CVC and the government have a very critical choice to make.

During his two-year plus tenure, P.C. Sharma has done commendable work. The new chief will have to maintain the pace and also further Sharma’s unfinished agenda. Repatriation of several criminals from UAE, extradition of Abu Salem, unfolding the Haren Pandya murder case — the list is long.

As per the prime minister’s promise, the CBI has channelled energy towards speedy disposal of cases. Except in the Ayodhya case, it has been able to avoid controversy. The selection of the new director is very crucial in this context.

Home and the world

Recently a Union minister visiting China was amazed to find the most frequently heard ringtone on GSM mobile phones was Saare jahaan se achcha, Hindustan hamara. Few Chinese would have heard the song, fewer still understood the lyrics. But the tune has caught their imagination.

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It is ironic that while the song composed by Allama Iqbal — the ‘‘philosopher of Pakistan’’ and, for many, the father of the two-nation theory — is in effect banned in Pakistan, it tops the ringtone charts in China.

Similarly, the fact that many — and certainly the best — of the recently installed idols of Hindu deities are imported may ruffle the swadeshi sentiments of the likes of the VHP. Be it Ganesha, Krishna or Rama, the most exquisite marble idols these days are being crafted by sculptors in Italy, who then ship them to India.

Even without a comprehensive understanding of our traditions, people in China and Italy are absorbing Indian flavours. That is something to be smug about.

(The author is a Congress MP)

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