Global India Foundation hosted a special address on ‘Financial Security and International Interdependence’, delivered by Shri Pranab Mukherjee, Hon’ble Minister of Finance, Government of India on May 27, 2012 at the Pala, ITC Sonar, Kolkata.

Vice-Admiral P.J Jacob, Chairman, Global India Foundation and Dr. Sreeradha Datta, Director, Maulana Abul Kalam Azad Institute of Asian Studies made the introductory and welcome remarks, following which Shri Atul Rai, CEO and Managing Director, IFCI spoke of the propriety of the subject in present times as the Guest of Honour. The proceeding was chaired by Prof. Omprakash Mishra, Member Secretary, Global India Foundation. Sayantani Sen, Fellow and Academic Coordinator, Global India Foundation offered the vote of thanks.

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(A) From left to right: Dr. Sreeradha Datta, Prof. Omprakash Mishra, Shri Pranab Mukherjee, Shri Atul Rai and Vice-Admiral P.J Jacob
(B) Shri Pranab Mukherjee addressing the audience
(C) From left to right: Ms. Sayantani Sen, Dr. Sreeradha Datta, Prof. Omprakash Mishra, Shri Pranab Mukherjee, Shri Atul Rai and Vice-Admiral P.J Jacob

While distinguishing between ‘financial security’ and the notion of ‘financial stability’, Shri Mukherjee accepted the fact that growing interdependence among states has led to a fair amount of uncertainty in the international economy(FM's Speech). Expansions in international trade have turned the problems of otherwise smaller countries into systemic risks, making the relevance of country size somewhat redundant. In view of the contemporary trends in global economy, Shri Mukherjee revisited the merits of financial regulation to sustain growth within the scope of stability and financial security.

In course of his address, Shri Mukherjee acknowledged his association with the Foundation by referring to the occasion of the launch of Global India Foundation when he delivered the keynote address as the Minister of External Affairs. He commended the evolution of the Foundation as a policy and research forum and suggested that think tanks like Global India Foundation should occupy a primary component of our policy space as in most G-7 countries and should play an important role in our intellectual and economic discourse with other nations.