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HVK Archives: CII takes up cudgels for nuclear India abroad

CII takes up cudgels for nuclear India abroad - The Economic Times

Posted By Krishnakant Udavant (kkant@bom2.vsnl.net.in)
May 19, 1998

Title: CII takes up cudgels for nuclear India abroad
Author:
Publication: The Economic Times
Date: May 19, 1998

Even while the government is still offering to open a dialogue
with the world to explain its stand on the five nuclear tests
conducted last week, the Confederation of Indian Industry (CII)
has already reached out to the world community on the issue.

The chamber has initiated a damage control exercise to contain
the economic fallout of the nuclear explosions and the consequent
sanctions. This includes issuing advertisements in international
publications, writing letters to heads of governments, industry
associations, MNCs and meeting representatives of foreign
embassies and high commissions.

The chamber had on Saturday issued a full-page advertisement hi
an international financial daily explaining the need for the
nuclear tests as well as emphasising the fact that the
international focus must remain on economic opportunities and
economic partnership.

The advertisement was essentially targeted at the G8 summit,
which was underway in London at that time, and spelt out the huge
business opportunities that exist in the country, besides
reminding the international community that India has the largest
middle class hi the world. The ad also seeks to deliver the
message that there is a consensus on economic reforms within the
political system in the country.

Talking to media persons in Chennai, CII chairman Rajesh Shah
said, "We have built a detailed case for India in this letter. We
have explained to these countries why they should concentrate on
the economic agenda and continue to focus on economic
partnerships."

According to Mr Shah, CII would also separately meet the business
leaders and industry associations of the G8 countries, including
the US and Russia, explaining to them the rationale behind the
nuclear tests.

However, Mr Shah strongly felt that the government should also
move ahead m implementing its economic agenda in a clear and
determined manner if it has to convince the world and the
business leaders about its commitment as far as the economic
growth and reforms is concerned.

CII, which has supported the nuclear tests carried out by the
government, has taken the view that the best way of minimising
the negative fallout of the nuclear explosion is by focusing the
attention of the international community on the huge business
opportunities that exist in the country and by emphasising that
business must go on as before.

The CII ad starts by saying, ndian industry -- CII -- believes
that these nuclear tests were carried out because of serious
national security concerns, especially the nuclear environment in
the region. CII also believes that India' s commitment to
national security and its international obligations and
sensibilities have to be balanced. This is accepted by Indian
leadership political and industrial."

It talks about the uge opportunities for global business
partnerships in several key areas. et's build on this
together, it exhorts, adding that CII has continuously eached
out to the world of international business and is committed to
sustain this effort in the future. CII has also shot off letters
to heads of governments, including Tony Blair of the UK, Jacques
Chirac of France and Romano Prodi of Italy.

The chamber has also written to Lehman Brothers, Chubbs as well
as industry associations such as the Confederation of British
Industry, Confederation of French Industry and Services, USIBC,
Asia Society, New York and National Association of Manufacturers
(US).

In its letters to these industry bodies, CII has urged them to
use their relationship with their governments to maintain a
balance in the relationship and to keep the focus on the mutual
economic agenda.

In the next 48 hours, CII plans to step up its efforts and is
planning to hold a series of meetings with embassies, high
commissions, MNCs, FIIs and foreign insurance companies hi India.

Meanwhile, CII's overseas delegations to Geneva, Korea and Japan
are also involved in the damage control exercise. While these
delegations had been planned earlier, they have been roped in for
this purpose.

CII has also sought to enlist the help of the influential NRI
community for this purpose and is placing an advertisement in a
newspaper which has a large member of readers from the Indian
community

Industry observers wonder if there is any connection between
CII's full-throated defence of the government's action and its
demands for tariff protection to certain sectors of domestic
industry, particularly capital goods, which has traditionally
been the mainstay of the confederation.

Meanwhile, CII, Mr Shah said, has also drawn an elaborate
blueprint to glide India to a new millennium with a new mindset.
ndia can achieve seven per cent GDP growth in 1998-99 if the
government takes some immediate steps to rev up the economy," he
said.


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