Industry does not have to fear foreign onslaught: PM

Industry does not have to fear foreign onslaught: PM

Monday, 08 November 2004, 08:00 Hrs
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On Board Air-India One: Prime Minister Manmohan Singh said Sunday Indian industry does not have to fear a "massive foreign onslaught" because of the opening of the economy.

"We will make every effort to ensure that the opening of the economy to the outside world is a source of strength and not weakness," he said while addressing an onboard press conference en route The Hague for the fifth India-European Union summit beginning Monday.

"Our industry and India do not have to fear that there will be a massive onslaught because of foreign competition," he maintained.

"The challenge was to set in motion a process that will increase competitiveness of the industry," he added.



Source: IANS
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