Gujarat Chief Minister, Shri Narendra Modi vehemently advocated for evolving a global model of Inclusive growth. Modi said that traditional paradigms should give way to innovative and bold initiatives.

Shri Narendra Modi was speaking on the theme-session of “New Paradigms for Securing Inclusive Growth” in the India Economic Summit 2008, organised by World Economic Forum in New Delhi today.

Gujarat Chief Minister firmly emphasised that while considering inclusiveness, there must be paradigm shift in mindset of rich countries and developed nations.

The basic problem of world scenario today is that rich countries consider and dictate the poor and underdeveloped countries as others. They should not dictate but should create structures where everyone’s voice is heard.

Shri Narendra Modi also lamented the undemocratic structure of the World Bank and the International Monitory Fund. These two financial institutions are mostly playing role of the representatives of developed countries. They also should change the mindset and should work for the poor and underdeveloped nations.

On the role of United Nations Organisation (UNO), he suggested that while the UNO succeeded in stopping another world war, this organisation could not do anything against global terrorism which is a proxy war with inhuman mindset.

In order to make paradigm shift for inclusive growth, we have to change our thinking and strategy. Referring to Indian Five Year Plan strategy, Shri Narendra Modi strongly emphasised for overall review of all the ten Five Year Plans and evaluate their strengths, weaknesses and the common thread to strengthen nation’s economy.

Elaborating “the Gujarat Model of Inclusive Growth” Shri Narendra Modi said that on the foundation of five basic thoughts, Gujarat has executed paradigm shift in State’s governance. Gujarat had proved that development can be a holistic and can be made a mass movement. We empower people with partnership and stakes, with knowledge and skills, with tools of technology. He quoted, launching various state wide campaigns like Nirogi Bal Varsh involving people at large to address critical issues.

Shri Modi said that the fruits of growth and development must reach to the last person, to the weakest person, to the remotest – “unto the last”. Without this any growth is neither a sound economic theory nora sound ethical approach.

He narrated the revolutionary success in Water Management, Agricultural growth, speedy justice through Evening Courts initiatives, Healthy Child Year movement, PSU’s turn around etc and said that Gujarat Government has focused more attention on the special needs of the most backward regions and also carved out strategy for 30 most backward Talukas to bring them into mainstream of development.

Gujarat is poised one step ahead in good governance and marching towards proactive governance, he added.

Mr Modi also said that in Gujarat he has planned to convert the present economic slowdown into an opportunity. While elaborating this concept he said that presently, cement and steel prices are low. Hence, he will concentrate on building infrastructure and houses for the poor. With this he will address three issues infrastructure at low cost; employment to people and demand in the cement and steel industry which will keep them going. Also, their employees will not be retrenched.

Mr Klaus Schwab, Founder and Executive Chairman of World Economic Forum applauded Gujarat Chief Minister’s initiatives in all round development of state and said that Mr Modi is a visionary leader with clarity of thought. He also said that Mr Modi is not only has clear ideas and sound strategy, but has also implemented them. Mr Klaus was highly impressed by the achievements of Gujarat.

While Gujarat is going to be “an International Financial Hub” with upcoming GIFT City concept, it is also encouraging “Rurban Culture” development model Mr Modi said while answering a question.

He invited the industrialists and economists to attend Vibrant Gujarat Global Investors’ Summit being organised on 12-13th January 2009 in Ahmedabad as well as Gems and Jewelery Event to be held in Surat on 26-27th December 2008. Shri Modi also appealed them to become a partner in growth model of Gujarat which is robust, sustainable and inclusive.