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Pranab backs PM's claim, says fundamentals of economy strong

New Delhi: President Pranab Mukherjee today backed Prime Minister Manmohan Singh's claim that the fundamentals of Indian economy were strong and assured the country's diaspora that the nation is re-emerging as an attractive investment destination.“As

PTI Updated on: January 09, 2014 22:29 IST
Mukherjee lamented that India is lagging behind in the field of higher education and research and many bright students are going abroad for higher studies.  “China and the US are amongst the countries at the forefront of innovation with over five lakh patent applications filed by each country in 2011. In contrast to this, India filed only 42,000 patent applications, which is far behind these countries,” he said.

He stated that according to an international survey, only three Indian companies are among the world's 100 most innovative companies.

He rued that most Indian Nobel prize winners have been based abroad.

“As Visitor to all central universities, IITs and NITs, I have been travelling the length and breadth of our country pointing out that India needs world class universities and has not produced a single Nobel Prize winner from India since Sir C V Raman,” Mukherjee said.

The President has often asked educational institutions to pump in more money in research and development and emphasised on the need for pursuing greater international linkages by establishing collaborations with foreign universities.  He also underlined that the best faculty from across the world should be invited to come and teach in institutions here.

Appreciating the role played by the Indian diaspora in bringing laurels to the country, Mukherjee said the government has also taken measures to help them.  “The Indian Community Welfare Fund (ICWF) which assists Indians in distress abroad is an important initiative in this regard. This has been of great help and solace to Indian workers, especially those in the Gulf countries,” he said.  

A new e-migrate project is being rolled out in order to ensure hassle free migration of workers in the ECR category while a Pravasi Bharatiya Kendra will also soon open in Delhi and serve as a centre to commemorate and celebrate the contributions of the Indian diaspora to India and the world through lectures, seminars, exhibitions and research.
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