Association has always been the buzzword in Indian economy and today, India is finally ready to reap its benefits. FICCI and Assocham were never able to make a lasting association with many of the foreign economic institutions of their kind. However, the lasting partnership or the association between the CII and the WEF has seen many a ideas springing.
Even in 1985, when India was a relatively closed economy, the World Economic Forum or the European Management Forum as it was then called, wanted India to open its door to them. This was perhaps because India’s huge potential as the second largest market of the world was evident even back then.
Modern India however, with its open economy later became more receptive of international organizations eyeing such associations. Even as the first India Economic Summit happened in India with bigwigs like Assocham, FICCI and AIEI in association with the European Management Forum, Indian organizations were still not content. The next summit saw both Assocham and FICCI dropping off it. Finally, the EMF became today’s World Economic Forum and AIEI became CII.
The summits that they arranged and participated in together, forged deep ties between the two and today, even though there are country specific summits, WEF continues to support India in international forums because of it’s ties with the CII. The economic summits in India bean quite modestly. However, over the years they have seen many highs and lows. After the 1990s though, the summits have not looked back and India continues to enjoy the benefits of foreign interest and mingling of political forces with it. The summits have ever since been the sowing bed of important economic policies which not only affects India as a nation but also the world economy.
No comments:
Post a Comment