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Indian economy well despite Iraq war
NEW DELHI: "In September 2002 itself, we had set up a study group to assess the likely impact of the war (Iraq) and chalk out the ways to manage it," Singh said here, addressing a convocation function organised by International Management Institute.
The minister said he was pleased to say that compared to crisis in 1991, the country had been able to manage the position in hydrocarbons, foreign exchange, industrial production and keep inflation within the reasonable limits.
Singh said these achievements had to be seen in the background of drought that affected last three quarters of the previous fiscal, the impact of war and sliding global economy.
Talking about the challenges of management, he said the ability of a person should not only be to manage the changes but also to foresee the changes and direct the changes in desired ways.
"Great opportunities are behind great challenges," Singh said after giving away the medals to meritorious students of the management course of IMI.
He urged the students to achieve excellence, saying that nothing short of excellence could do and one had to go behind the obvious and apparent to be successful.