India

Lord Collins of Highbury Excerpts

Thursday 17th July 2014 Lords Chamber

[Baroness Northover]

I thank my noble friend for his tribute to the Government. I am proud to be part of a Government who have finally met that 0.7% target. Everybody in this House knows how important that is, and how small a contribution it is in financial terms. That is something that we need to get across to the public as a whole. There is a moral case for this; it is extremely important.

My noble friend will also know that, as India grows, it is transitioning to looking after its own people; that is key. I have seen major Indian government projects in place supported with DfID technical expertise. That is the right way to head.

[Lord Collins of Highbury (Lab)]

My Lords, 15 years ago there were just two dollar billionaires in India; now there are 46. The total net worth of the billionaire community in India has climbed from 1% to 12% of GDP. That is enough to eliminate absolute poverty twice over, with enough left over to double spending on health. What steps will the Government take to ensure that this fundamental issue of income inequality is properly addressed at the UN talks on post-2015 SDGs?

[Baroness Northover]

The noble Lord will know from our own history that poverty alleviation in our country was a slow process. India is moving very fast. Over the past decade, it has moved from having 37% living in extreme poverty to 22%. The important thing, as the noble Lord rightly identifies, is India’s investment in its own people. I have said that what the Indian Government have put on the record is very encouraging, as they seek to eliminate poverty among all their people with, as they stress, inclusiveness in doing so.