Processing .....please wait.. 
The article has been forwarded.... 
Globalization on our own terms: FM
By agencies
|
Friday, 10 June 2005, 19:30 IST
BERLIN: Attacking developed nations for sharp rise in barriers, including for labor movement, India has made it clear that globalization will be on its own terms as it has now acquired a "pro-rich" flavor.
"We adopt the course (of globalization) willingly but wish to put on table our terms for such engagement," Finance Minister P Chidambaram said in his address at Bertelsmann Foundation here yesterday.
Asserting that New Delhi was "optimistic" but "cautious", he said "we shall continue to follow the course by balancing our main interests of harnessing globalization for obtaining economic growth and removal of poverty in India."
Many advanced nations continue to impose protectionist barriers, especially on farm products to the detriment of developing countries, he said, adding "we are also worried about the sharp rise in barriers to movement of people from developing to advanced nations."
"These barriers must go if the world is serious about the gains of globalization... The stark contrast between the effortlessness with which capital can move while labor cannot, has made globalization a contentious subject and has imparted to it a somewhat undesirable pro-rich flavor," he said.