am delighted to be here in Delhi for this IISS-Oberoi Discussion Forum. Thanks to Sanjaya Baru for making it happen.
Many of you in this room have witnessed the dramatic changes in international commerce that have taken place during the past two or three decades.
India’s trade volumes have registered healthy growth. Indian companies have thrived at home, and steadily expanded their presence abroad. Without downplaying the enormity of the challenges India faces, it is evident that the country is making a comeback in the world economy. A world economy that was being radically reshaped by the rise of emerging markets even before the transatlantic financial crisis accelerated the process.
In this changing international system, decisions made by Indian policymakers and Indian businesses matter. More to the point: the decisions you, and people like you, make will matter for the future of world trade, for the future of the world trade system and for the future of the WTO.
I intend to use my remarks today first to reflect on the importance of economic growth as a tool for managing geopolitical tension, and then to appeal for a return to thinking in geostrategic terms about the international policy environment that supports growth.
Growth