If India wants to tap its immense potential and be a "global manufacturer" it should enact strong economic reforms and adopt a strategic approach with the rest of the world through global and regional trade agreements, a senior Singapore minister said today.
"To have a shining future, India must proceed steadily down the path of economic reform, development and modernisation. It must, in particular, pay greater attention to the development and skill training of its human resources, Singapore Emeritus Senior Minister Goh Chok Tong said at the launch of a new book, "India Rising - Fresh Hope New Fear" here.
"Its young population is as asset. But if they are not trained and cannot find jobs in the future economy, they could become a liability," said Goh, 74, who had promoted bilateral economic relations between India and Singapore during his Prime Ministership in the 1990s.
"From sparking an India fever till today, I continue to believe in the immense potential of India," he said.
In support of Make in India campaign, India should boldly venture beyond and strive to be a " global manufacturer", he said.
"This will require India to enact strong economic reforms and adopt a strategic approach in linking up India with the rest of the world through global and regional trade agreements," he added.
"To be a "global manufacturer", India has to be physically connected with the rest of the world through roads, rails, sea and air," Goh said.
"I believe that India has not fully appreciated the importance of air connectivity in reforming and opening up its economy. Liberalising India's aviation sector through policy reforms requires self-confidence and a mind set change," he said.
"Air connectivity is infrastructure in the sky. As India grows, I see India becoming a major destination in its own right as well as a global aviation hub for air travellers," said Goh.
"Our common purpose and complementary differences will release synergy for both countries over decades to come," he said.
"Since our independence, we have remained steadfast partners of India. Indeed, while India will rise with high growth rates in the coming years, the output gap, as economists would put it, is still wide," Goh said.
"The recently concluded India-Singapore Strategic Partnership will strengthen relations in traditional areas of collaboration, such as defence, trade, investments and culture, while providing the broad vision for new areas of bilateral engagement, Goh, who was also the former prime minister of the country said.
The book is authored by Ravi Velloor, who is associate editor at Singapore newspaper The Straits Times.
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