I am pleased to welcome such a distinguished group of leaders and thinkers from almost 25 countries to our city. It is very rare that so many great minds are together under one roof. Your effort and dedication gives me hope that it is possible for the world to find solutions to the most urgent problems facing humanity in the spirit of mutual understanding and cooperation. I welcome you all to Mumbai.
I must compliment the Strategic Foresight Group for taking this initiative. In the last five years, we have watched the progress of this think-tank based in Mumbai with its ability to influence policy discourse not only in New Delhi but also in Brussels, Cairo, London and New York. The research reports of Strategic Foresight Group are always ahead of our times. The initiative of the Strategic Foresight Group to convene the best minds of the world to explore solutions to the interlinked problems of economic growth, peace, and sustainability is commendable. I am also pleased that the University of Mumbai, of which I am the Chancellor, is closely associated with this initiative.
This conference is most timely. For the last few years, common people in rich and poor countries alike are suffering from increasing fuel prices. Since the last few months, inflation in food and commodity prices has made life difficult for all people, particularly for the poor in the developing world. In these crises, we can see a close linkage between business, peace and sustainability. If there is peace and geopolitical stability in all major oil producing countries, the price of oil would be much lower. If there is careful planning in the diversification of land use from food to bio-fuels, the price of food would not be so high. Peace is essential for economic growth and sustainability; sustainable societies produce peace. A big question of our time is how to produce a virtuous cycle between peace, sustainability and economic growth.
Before I share my thoughts on how to proceed further, let us reflect on how the world has progressed. Ancient Indian scientists and sages contributed to the creation of knowledge – zero, decimal numbers, algebra, calculus, principles of governance, health, astronomy and other fields. The knowledge developed in India was then transferred to other parts of the world. On the other hand, the Indian society assimilated knowledge developed elsewhere and adapted it to our environment. We have always believed in the collaborative harnessing of knowledge to advance human progress and core human values.
Yet when modern technology was developed in recent centuries, its development was concentrated in one society at a time. Time has now come for a cooperative and simultaneous development of knowledge across societies in a collaborative way. We already have example of such cross-societal cooperation in the field of agricultural research and SARS (Severe Acute Respiratory Syndrome). We can develop new models of cooperation between research institutes and universities of the world to address emerging global problems such as inequity, climate change and environmental degradation.
As a recent research report of the Strategic Foresight Group points out, almost 90% of investment in clean technologies is concentrated in North America and Western Europe. In the next decade, as these technologies spread, we will go through a new industrial and technological revolution. Unlike the last three industrial revolutions, which were dominated by only one society, we have an opportunity to make the next industrial revolution a genuinely collaborative endeavour. In this task, universities and research institutes can play an important role.
About 20 years ago, our late Prime Minister Rajiv Gandhi had proposed a Global Environmental Fund. Three years ago, our present Prime Minister proposed at the Gleneagles Summit a Global Technology Venture Capital Fund for financing joint projects between developing and developed countries in environmental technologies. We need to examine these ideas and find feasible ways to implement them. Obviously we need a group of visionary countries to be champions of such a global knowledge partnership.
Our success in jointly protecting our environment and facilitating growth will foster peace. As you all know, water treaties have formed the basis of cooperation between countries, which are otherwise engaged in hostile cooperation. A treaty for cooperation in coal and steel sector transformed Europe from five hundred years of warfare to a continent of peace within fifty years. Similarly, worldwide arrangements to foster cooperation in new environmental technologies can provide the foundation of a peaceful world order.
It is possible to shift from the politics of problems to the diplomacy of cooperation. Knowledge cooperation and an alliance of universities and think-tanks can be at the core of such a collaborative global order. I hope that your conference will make a journey from the meeting of minds to the joining of hands. I will be keenly awaiting the results of your deliberations. I wish your conference every success.
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