Daijiworld Media Network - Mangalore (AF)

Mangalore, Mar 3: A workshop on 'Role of Foreign Direct Investment (FDI) in Economic Development' was jointly organised by SDM Law College and SEZ Impact Assessment Committee here on Friday March 2.

Speaking after inaugurating the workshop, Prof H G Mannur, visiting Professor of Economics at the University of Western New England at Massachusettes, USA said that foreign investment was necessary for country's growth.

He cited India's policy against foreign investment in 1950's as the reason for the country's poor economic growth. India's economic boom results from a change in policies in 1990's which welcomed foreign investment. This led to globalisation, liberalisation and privatisation, thus boosting the country's economy, he said.

He also stressed on the need to build our own model of development, without having to follow in the footsteps of any other country.

SDM College principal Dr B K Ravindra presided over the inaugural ceremony.