India can't afford war on Iraq: Indian industrialist
Monday, 06 January 2003, 20:30 IST
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HYDERABAD: A leading Indian industrialist has expressed concern over a possible war on Iraq, saying it would hit oil prices hard and consequently a growing economy like India. Sunil Mittal, managing director of Bharati Enterprises, a leading mobile phone service provider, said this at the 9th Partnership Summit of the Confederation of Indian Industry (CII) here Monday. Mittal is one of the 1,000 delegates from 23 countries attending the four-day summit, which began Sunday. He was reacting to a statement at the summit by former managing director of World Economic Forum Claude Smadja that the question was not whether there would be war against Iraq but whether it would break out between January 26 and February 27. Smadja Sunday night tried to defend the U.S stand on the Iraq issue saying it could not afford to take chances after the September 11 strikes in the U.S. But Mittal said from India's point of view there was not enough case for the U.S. to go and attack Iraq in 30 to 40 days. Mittal said India had huge stakes in Iraq and the Middle East and could not go against the interests of the Arab world. "We have a large labour force in the Middle East and can't afford any problem," he said. Mittal also spoke about the likely impact the Iraq war would have on oil prices. "India is a growing economy and it can't afford problems in the oil sector," he added. He called for more negotiations and persuasion by world bodies. "If it is for amassing weapons of mass destruction and sponsoring terrorism, Pakistan is a fit case and should be reined in," he said. Smadja, however, said the Bush administration was no longer interested in maintaining status quo in the Arab world though Europe had differences with it over the issue. He said Iraq was a potential source of risk and the U.S. had already made it clear it would resort to pre-emptive strikes to prevent 9/11-like attacks. He said the U.S action might lead to some shocks and chaos but it would ultimately get benefited. Smadja said the Arab world was on a boiling point. "The Arab world is predominantly young, jobless and desperate with their leadership," he said. He said the U.S. was not trying to change regimes in Saudi Arabia, Egypt and Jordan. "The objective of the Bush administration is to tell these regimes, especially of Saudi Arabia and Egypt, that you can't have the cake and eat it too. "You can't benefit from the support of the U.S. and at the same time give a free hand to clerics who preach in mosques and schools in a way which lead people crashing planes on buildings," he said. Thierry Courtaigne, managing director of MEDEF International French Business Confederation, hoped that a war with Iraq would not happen. He said the war might lead to problems in the Middle East and an escalation of oil prices affecting the world economy. Subhashis Gangaopadhyay, director of the India Development Foundation of CII, said the question was not only the short-term or long-term impact the war would have on world economy but also what kind of political environment it would lead to.
Source: IANS
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