Widening Disparities

As we survey the scene today, we find that a small number of countries have at their command eighty percent of the world trade, nearly ninety-five percent of private investment, an overwhelming share of world industry, technology and the ability to command and consume seventy per cent of the global resources. Over two-thirds of the human race continues to live in conditions of underdevelopment, unemployment, illiteracy, disease and malnutrition.

We all know how this has come about, and I am not apportion­ing blame, but there is something obviously unjust in allowing these disparities to persist and even to get accentuated by sheet neglect. I sincerely hope that we will avoid the mistake of taking too little action too late.

I recognise that the developing countries must themselves accept primary responsibility for their economic growth. As a matter of fact, I do not think that they have been remiss in discharging it. However, it is only fair that the small section of humanity, which commands a preponderant portion of the world's economic resources, must be ready and willing to share them more equitably.

As far as India is concerned, we have during the last twenty-five years of planned development mobilised ninety-three per cent of the resources for development locally, with only seven per cent from abroad. Such benefits as have flowed to us in the field of trade and investment have been sporadic, erratic and minimal. The same, more or less, is the story of other developing countries. This is not to say that we are unmindful of this assistance, but it is becoming increasingly clear that not enough has been done to improve the pace of growth of these countries.