India says Asia is the future

Published July 25, 2008

GENEVA, July 24: The future of manufacturing is in low-cost youthful Asian economies, and the United States and Europe should abandon ideas of propping up uncompetitive industries, India’s trade minister said on Thursday.

“The future is that cars are not going to be made in Stuttgart or Detroit -- they’re going to be made in Asia,” Commerce Minister Kamal Nath told a news conference.

“That’s the real world ... because the name of the game is global competitiveness, the name of the game is demographics, the age profile where the big markets are,” he said during World Trade Organisation (WTO) talks seeking a breakthrough in deadlocked negotiations to agree a new global trade pact.

Nath dismissed calls from German automobile manufacturers who want to ensure that any WTO deal does not allow big developing countries like India or China to shield entire industrial sectors from market opening.

German automobile manufacturers who have made huge investments in India were urging him to reject such an “anti-concentration” clause, he said.

Nath said he had explained this to German Economy Minister Michael Glos during the talks.—Reuters

Opinion

Editorial

Poll petitions’ delay
Updated 06 Jan, 2025

Poll petitions’ delay

THOUGH electoral transparency and justice are essential for the health of any democracy, the relevant quarters in...
Migration racket
06 Jan, 2025

Migration racket

A KEY part of dismantling human smuggling and illegal migration rackets in the country — along with busting the...
Power planning
06 Jan, 2025

Power planning

THE National Electric Power Regulatory Authority, the power sector regulator, has rightly blamed poor planning for...
Confused state
Updated 05 Jan, 2025

Confused state

WHEN it comes to combatting violent terrorism, the state’s efforts seem to be suffering from a lack of focus. The...
Born into hunger
05 Jan, 2025

Born into hunger

OVER 18.2 million children — 35 every minute — were born into hunger in 2024, with Pakistan accounting for 1.4m...
Tourism triumph
05 Jan, 2025

Tourism triumph

THE inclusion of Gilgit-Baltistan in CNN’s list of top 25 destinations to visit in 2025 is a proud moment for...