US India Global Review 2018

Crusading For Globalization By Ela Dutt GLOBAL LEADER A ppearing on the sto- ried world economic stage in Davos, Switzerland, Modi staked out his role as a crusader for globalization, against protectionism and for tack- ling climate change. He held out the promise of a $5 trillion Indian economy by 2025, asserting the "License Raj" had been done away with and India is open for business. During his whirlwind 24-hour visit to the World Economic Forum, Jan. 23, Modi also met several government and economic leaders. While experts and observers believe he did an effec- tive job of pitching the opportunity of India, they differ on the impact of his Davos sojourn. Taking up the WEF theme of Davos, Greeting a Shared Future in a Fractured World, Modi said at the international level, "the frac- tures and fault lines are really frightening." On climate change, he said, India is aware of its responsibili- ties , and "we are willing to take the lead in mitigating its effects." On international trade, he warned, "Instead of globalization, the power of protectionism is rais- ing its head." He also mourned the lack of consensus among nations. "We are seeing new types of tariff, non-tariff based barriers being imposed. Bilateral, multilat- eral negotiations appear to have come to a halt," he noted. He urged countries to follow India's philosophy of Vasudhaiva At the World Economic Forum in Davos, Switzerland, Modi took on the mantle of leadership on globalization and climate change, urging international leaders to step up to the challenges P M Narendra Modi at the International Business Council event. He spoke about India’s reform trajectory and how India is an ideal destination for investment. Photo: Twitter/ @narendramodi 35 US-INDIA GLOBAL REVIEW APRIL-JUNE 2018