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23 January 2018
 |
| PM Modi (The Total Investment & Insurance Solutions) |
Prime
Minister Narendra Modi on Tuesday cautioned against the rising chorus of
protectionism in a number of countries around the world and termed such a
tendency to be as much a threat as terrorism or climate change.
PM
Modi's words of caution came as part of his first speech to the World
Economic Forum in Davos, where he addressed gathered heads of state and
government and the CEOs of the global industry.
He
began his address by noting that India's economy has grown significantly since
the last time an Indian PM addressed the gathering.
"Last
time an Indian PM came to Davos was in 1997 when Deve Gowda ji had come.
That time our GDP was little more than 400 billion dollars, now it's more than
six times that figure," he said.
Dwelling
on the theme of this year's WEF - 'Creating a shared future in a fractured
world' - PM Modi said, "New powers are changing the balance between
economic and political strength. This is indicating a change in future of the
world. The world is facing challenges in maintaining peace, stability and
security."
He
had a word of caution against the rising voice of protectionism. "Many
societies and countries are becoming self-centred. It seems that globalisation,
as opposed to its definition, is shrinking. Such misplaced preferences can't be
considered any lesser threat than terrorism or climate change. We must admit
shine of globalisation is fading," he said.
In
his speech, PM Modi characterised terrorism and climate change to the be the
biggest threats the world faces. "Climate change is a huge threat right
now, Snow in the Arctic is melting, many islands are sinking or are about to
ink… Terrorism is dangerous. Worse is when people say there is a difference
between 'good' and 'bad' terror," he said.
PM
Modi also used the stage to affirm India's growing role the systems of
global governance, saying India would always be a unifying and harmonising
force in the world thanks to its own diversity.The Total Investment & Insurance Solutions
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