Speech

Vote of Thanks by Mr. Saroj Kumar Poddar, President-Elect, ICC India

March 9, 2007- New Delhi

• Dr Ajay Dua, Secretary, Department of Industrial Policy and Promotion
  
• Mr Yogendra Kr Modi , President, ICC India
  
• Dr Amit Mitra, Secretary General, ICC India & FICCI
  
• Members of the Executive Committee
  
• Members of the Diplomatic Core
  
• Excellencies, Ladies and Gentlemen

I consider it a great privilege and honour to propose a vote of thanks at the ICC India 76th Annual General Meeting.

We are extremely fortunate to have had the opportunity of listening to an insightful inaugural address by Dr. Ajay Dua, Secretary, Department of Industrial Policy & promotion. Ministry of Commerce & Industry. We are indeed grateful to you, Sir, for sparing time from your busy schedule to be with us at this occasion.

Aptly in his inaugural address, Dr. Dua has exhorted the leadership of developed nations to remove trade-distorting agricultural subsidies, liberalise immigration and the movement of natural persons and intensify efforts to make trade more development-oriented to ensure that globalization works for all.

I may mention that every year, ICC Chairmanship meets with the leaders of the G8 to provide business input to the summit. This year too, ICC handed the Russian President a statement issued to all G8 leaders on behalf of world business highlighting the magnitude of what is at stake in the Doha Round and stressing that an unsuccessful round would have far-reaching repercussions to world business and fate of globalisation. ICC appealed to G8 leaders to use their meetings for resumption of Doha Round talks.

As you have heard from Mr. Modi, globalisation is fact of life and an irreversible process now. The gains have been evident from success stories of many a countries, notably China & India. While we should continue to strive for greater economic integration with the rest of the world, the pace of reforms need to be calibrated keeping in view the developmental needs of our country and achieving the utmost important objective of an 'inclusive growth' to benefit all sections of the society.

However, there have been naysayers. It is up to us, the business & governments, to work together to remove fears about globalisation. It is true that some dislocation will happen, but the benefits far out weigh them.

I am happy to inform you that ICC India organised an international seminar on "India in the world economy" on December last year, where delegates from about 40 countries participated. The discussions centered around India's growing role in global economy & mainly focused on the need for deeper integration of economies for raising standard of living.

We have also been very active in the ICC commission, which evolves ICC's position on WTO issues and eventually is presented to WTO as world business views. ICC India attaches great importance to all elements of the Doha Development Agenda and will continue to provide inputs with developing countries perspective on ICC's policy statements as they progress. As rightly pointed out by Mr. Modi completing the suspended Doha Round and lowering trade barriers by developed countries will boost incomes in developing countries, thereby strengthening the forces of globalisation.

Before I end this vote of thanks, I would like to compliment Mr. Modi for his dynamic leadership provided to ICC India. Though difficult to emulate, I would nevertheless strive to achieve the high standards set by him.

I would request you to join us for high tea.
Thank you !