Published on Tue, Nov 07, 2006 at 08:24 | Source : Moneycontrol.com
Updated at Tue, Nov 07, 2006 at 09:02
Like this story, share it with millions of investors on M3
0
Like this story, share it with millions of investors on M3
India's more globally engaged today: PM
The Prime Minister, Dr Manmohan Singh, deplored the postures of political parties that were "based in the past and out of line with India's current interests as an increasingly globalised integrated economy" when India is "destined to be more globally engaged".
The Prime Minister said "we need to know the extent to which principles that drive liberalisation in goods trade apply to services trade" as India needs to have a deeper knowledge of its relative strengths in many services such as entertainment, business services, retailing, finance and banking, construction, education and health.
"We need to have a better understanding of this complex area, particularly in view of its employment potential and our strengths in some services," Dr Singh said.
With a great deal of optimism about India in seminar halls and boardrooms across the world and as the Indian economy modernises and grows, the Prime Minister said "we should expect a reverse migration of talent especially from within the Diaspora". Researchers at ICRIER must engage the likely implications of various sectors and regions of such a `reverse brain drain".
Without directly referring to the controversy over exporting minerals such as iron ore to multinationals who might establish manufacturing base for value addition here, the Prime Minister said that "we need to study far more deeply the characteristics driving trade in natural resources and energy, the impact of global economic relationships on this trade and the perceived drive by some countries for securing sources of energy and minerals in third countries and the implications of this for free markets in these goods".
