The Hindu : Sinha stresses on economic diplomacy

Online edition of India's National Newspaper
Wednesday, Jul 09, 2003

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Sinha stresses on economic diplomacy

By Our Special Correspondent

NEW DELHI JULY 8. Highlighting the growing importance of economic diplomacy in the new world order, the External Affairs Minister, Yashwant Sinha, said today that trade, investment and technology cooperation would form an important part of India's foreign policy.

"I have talked more economics in the last 12 months as Foreign Minister than in the previous four years as Finance Minister," he said.

Speaking at a function to release a book on India as an attractive foreign investment destination, prepared by the External Affairs Ministry in collaboration with KPMG Consultants, he said that economics had come to dominate dialogues between countries or regional groupings. And over the past year, "I realised I was more an economics minister than a foreign minister as I was talking of investment, trade, economic cooperation and global economic issues."

Addressing a gathering of diplomats and industrialists under the aegis of the Confederation of Indian Industry, he said the country's missions abroad were already involved in economic work and this area would continue to have the highest priority in foreign policy.

In this context, he underlined the need for a strong partnership with the business community. Such a partnership was essential, inevitable and unavoidable.

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