For instance, for the last two years or so there has been an economic crisis in many industrialized countries, characterized by runaway inflation, mounting unemployment and recession. At the same time, one perceives a concerted effort on the part of these countries to get together to harmonize their economic policies and responses to the outside world.

There is relaxation of tensions and in fact Mutual co-opera­tion among erstwhile adversaries. But great power rivalries seem to erupt in far-away places. While some of the developing countries have been suddenly catapulted into overwhelming affluence, the gap between the developed and developing world continues to widen. I am enumerating some of the contradictory trends which appear to be operative in the world today. I am convinced that if our foreign policy is to remain in step with the evolving situation, we must analyse these trends in depth, and there should be a very broad-based dialogue between diplomatists, policy-makers and intellectuals.

Shrewd judgment and anticipation after deep study is the heart of policy planning and initiative in foreign affairs. In fact it is necessary to carry a basic understanding of these issues even to the masses. Such an understanding and support at the mass level for the fundamental tenets of our foreign policy have been among our strong paints in international relations. I hope the Institute will contribute to this continuing process in the country.

I would now speak about some of the major global trends, certain very important events in our region and some of the mainsprings and concerns of our foreign policy. I have referred before to the trend towards relaxation of tensions or detente. A major landmark in this process is symbolized by the declara­tion at Helsinki and the "handshake" in space between the Apollo and the Soyuz astronauts recently.

There are many factors which have strengthened this process of detente, one of them being the climate for peaceful co-exis­tence created by the non-aligned movement and its leaders. Pub­lic memory is proverbially short and those dark days when a catastrophic confrontation between the two blocs seemed im­minent now appears too remote. But as a founding member of non-aligned movement, India will always remember the cease­less efforts of our leaders in those days to build bridges of understanding between the two opposing blocs.