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Changing Geopolitical environment has to be part of business strategy: Shyam Saran

Thursday, January 11, 2018, 18:00 Hrs  [IST]
HBI Staff | New Delhi

Delivering a keynote at the Global Hospitality Conclave 2018, organised by a group of erstwhile Oberoi School of Hotel Management alumni in Delhi-NCR, Shyam Saran, former Foreign Secretary to Government of India, said that in the fast-changing global Geopolitics, businesses cannot remain indifferent and has to evolve right business strategies to remain relevant. Geopolitics, he said, is everyone’s business today and cannot remain cut off from it.
Talking about countries, Saran said that countries which successfully handle their cosmopolitan culture, pluralism and diversity will be set to command the leadership role in future. While India because of its unique position on the maritime and caravan route has gained inherent strength as a cosmopolitan and pluralistic society, he warned against attempts to erode that by forces which believe in “narrow nationalism.” He said that the core of India’s tourism and hospitality will be lost if we lose our cosmopolitan culture.

He said that the change in geopolitical factors including climate change impact politics, economy, trade, businesses, etc. Sharan said that the power equations are shifting rapidly from the Trans-Atlantic to Trans-Pacific region because of the domination of stronger economies like Japan, China, India, South East Asian economies, etc. Most of the technological innovation is happening in these regions. Asia will certainly be at the centre of the new international order which is emerging, he said.

He said that future of economies in the globalised world will depend on how fast they adopt and assimilate innovative technologies and create knowledge-oriented economies. He said that India is in an advantageous position because India hasn’t got “locked” in any “developmental pattern” which is difficult to deconstruct.

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