Targetting inflation is more important: Lord Paul

NRI industrialist Lord Swaraj Paul said that the Indian government should first target containing inflation rather than focus on growth. On the sidelines of an interactive session organised by FICCI eastern region Lord Paul said that “growth is not a problem, inflation is the number one enemy.” Growth did not have any meaning, he said, if poor people were not benefitted.

He believed that it is far more necessary that India should focus more on containing runaway inflation witnessed at the moment which has hit the poor people hard. This was required for inclusive growth, he said. Lord Paul said: “Indians do not raise their voices loud enough that they deserve to do.” In this context, he said that Britain was determined to keep inflation at two per cent.

Earlier, Lord Paul told members of FICCI that Britain was keen to see successful completion of the Doha Round of WTO negotiations. Referring to the recent acquisitions made by the Tatas in UK, Lord Paul said that Britain was delighted to welcome the business house there. Relationship between India and UK was at its peak in the last 60 years, he said.

Lord Paul also stressed upon the need to upgrade the education system in India. He along with Lord Bhatia, MP Ashok Kumar and Baroness Verma were on a Commonwealth Parliamentary Association delegation visit to the city.