Gurumurthy hails Swadeshi movement

BANGALORE: Against the backdrop of the global financial crisis, the Swadeshi movement has moved from being an opposing force to a thought leader today, columnist S Gurumurthy said on Friday.

Speaking at the national-level conference of the Swadeshi Jagran Manch (SJM), he said that the financial crisis proved that the Indian concept of living was a great success. “The biggest problem in the US is the reckless spending and borrowing of its people. They are now trying to bring the saving habit back,” he said.

Gurumurthy also pointed out that the world was realising the folly of the direction in which it has been moving. “Today Manmohan Singh and Chidambaram cannot talk differently from what the Swadeshi Jagran Manch has been saying,” he said, in reference to the policies favoured by the Prime Minister and the former finance minister.

He recalled that the Prime Minister had called for greater integration into the global financial system, and it was Dr Y V Reddy, the then governor of Reserve Bank of India (RBI) who had the foresight to prevent it.

“By stipulating three conditions before full capital account convertibility — inflation below 5 per cent, fiscal deficit below 3 per cent, and no trade deficit — he saved the course of this country,” Gurumurthy said.

Rajya Sabha member M Rama Jois said that the Swadeshi movement and the freedom struggle went hand in hand.

“Though we have achieved independence from the British, we are yet to gain independence from foreign culture,” he said.

He noted that Mahatma Gandhi had called for a swadeshi stamp in every field of activity. “Yet, people today prefer foreign goods over swadeshi goods,” he said.

The day also saw the SJM all India convenor P Muralidhar Rao hand over charge to SJM National Sanchalak Arun Ojha.