Collective Self-Reliance
The Colombo Summit proved to be a definite landmark in the struggle for greater economic independence. Almost all the general statements made by the Heads of States Government at the summit highlighted the growing realisation and importance of economic co-operation among non-aligned and developing countries. The emphasis was on collective self-reliance as an instrument of achieving the economic content of non-alignment and the new international economic order. The need for greater co-operation among non-aligned and other developing countries as a concrete expression of this spirit of collective self-reliance is reflected in the action programme adopted at the summit.
The specific items of co-operation, highlighted in the economic declaration and the action programme, which cover a wide-ranging field, are trade, monetary and financial co-operation for scientific and technological development, tourism and employment. In all these fields, the emphasis is on the need to exploit the complementarities existing within the economies of non-aligned and developing countries, thereby reducing the degree of their dependence on the developed countries.
An enormous potential does exist for such co-operation. India, on her part, is prepared and willing to play an active role in this process. The action programme is to be implemented through the initiative of the co-ordinating countries in each field. Eyen before the Colombo summit, India was one of the co-ordinating countries in the field of financial and monetary co-operation among non-aligned and developing countries. At Colombo, India has in addition been nominated co-ordinator in the fields of scientific and technological development as well as technical co-operation and consultancy services. This was in recognition of the significant progress made by us in these sectors. The Colombo declaration envisages the setting up of project development facilities to enable developing countries to undertake feasibility studies and project reports with the help of consultancy firms in other developing countries so that the skills, equipment and know-how available among them can be used fully for their development.
In the field of industrial development the emphasis is on joint ventures and multi-action enterprises in developing countries; and in the field of agriculture on greater food production to reduce dependence on food imports from developed countries and to improve the structural balance of the economy of developing countries.