INDIA FOREIGN POLICY

New Economic Order

Q.
What does India expect the non-aligned countries to do in order to help establish a new economic order in the world?

A.
The non-aligned countries have made a significant contribu­tion in energising the "Group of 77" in the U.N. in its efforts to establish a new, just and rational economic order. Initiatives taken by non-aligned countries have led to important decisions in the U.N. General Assembly. The non-aligned countries must, therefore, continue to persevere in their efforts to bring about a restructuring of the world economic order through greater co-­operation. The process of dialogue and negotiation with the deve­loped countries is a continuing one and non-aligned countries must do everything they can to develop greater understanding and co-operation.

At the same time, new vistas and possibilities for mutual co-operation among the non-aligned countries have been opened. Recent economic crises which have affected a number of non-­aligned and developing countries provide a challenge as well as an opportunity to the non-aligned to lead the way for promoting co-operation among themselves and building collective self-reliance.

Q.
The Lima meeting will discuss the draft statute of the Fund for Economic and Social Development of the non-aligned coun­tries. What do you expect from the Fund?

A.
You will remember that the idea of the Fund had been mooted at the fourth summit conference. Considerable effort has already gone into the preparation of the draft statute. You may be aware that both India and Yugoslavia have been associated with this effort. We hope that questions like the quantum of initial sub­scription can be sorted out well in time so that the Lima Con­ference can adopt the statute and launch the Fund. It is our hope that at the Lima Conference indicative statements of  con­tributions to the Fund would be forthcoming. It is expected that the Fund will finance meaningful projects for economic and so­cial development in Non-aligned Nations — particularly the most seriously affected countries among them.