Minister of state for External Affairs, General V K Singh has stressed on the need for fast tracking technology infusion for the country’s sustainable economic growth.
This include strengthening Research and Development that helps economic growth. Mr Singh inaugurated a conference on- Economic Diplomacy for Development – under the Deccan Dialogue initiative in Hyderabad this morning. The External Affairs Ministry has organised the first conference under the Deccan Dialogue initiative, jointly with the Indian School of Business.
Speaking on the occasion, General Singh highlighted the need for greater coordination between ministries like External Affairs, Trade and Commerce and more cooperation with states to achieve economic strides on sustainable manner.
Stating that India is doing well when the rest of the world is facing sluggish economy, General Singh said, demographics, especially large number of youth and vast markets are India’ s advantage. He said, there is an urgent need to use economic diplomacy at every level with each country as each one has their own strengths and resources.
The Minister further said India need to focus on manufacturing sector, besides services sector, with a focus on MSMEs to make use of its strengths. He also said, there is a need to look at the growing Global Labour Mobility and protect the interests of workforce as well as prevent illegal migration.
Earlier, Telangana Non-residents Affairs minister K Taraka Ramarao urged the centre to take up resource mapping of various states, so that states’ interests, available resources and strengths will be known.