PM lists areas for research in international economic relations

New Delhi, Nov 6 (UNI) Prime Minister Manmohan Singh today drew attention to a number of key issues relating to India's closer engagement with the global economy, including the recent trend of ''reverse brain drain'', and asked think tanks to invest in informing and shaping public opinion and policy making based on sound research in this regard.

The Prime Minister set out detailed priority areas of research relating to international economic relations in his address to Indian Council for Research on International Economic Relations (ICRIER) at its Silver Jubilee Conference.

''I do believe that there are no binding external constraints on India's economic growth. Most constraints we face are internal. This does not mean that external developments or trends may not re-emerge as constraints on our growth process. Nor does it mean that we have taken full advantage of all opportunities available to us. What it means is that the global environment is more benign today than at any time in recent history,'' he said.

Dr Manmohan Singh described his participation in the inaugural of the two-day Conference as a ''home coming of sorts'', having been associated with ICRIER's creation as a founder member of its General Body. THe Prime Minister has been a guiding spirit for ICRIER in his capacity as an economist and policy maker.

The theme of the event is ''India and the Global Economy''.

''We must remain prepared at all times to deal with any external challenges to our development process, develop the necessary analytical tools to forecast global trends and their implications for us and design policy response systems which are rapid and flexible enough for our needs,'' Dr Manmohan Singh said.

Dr Singh said as the Indian economy modernises and grows the country should expect a reverse migration of talent, especially from within the diaspora. ''What I would call a 'reverse brain drain' is in the making. How can we encourage this? What domestic policy changes should we make to encourage this? What are the likely implications for various sectors and regions of such a 'reverse brain drain'. These and such other questions must engage the attention of researchers at ICRIER,'' he said.

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