 Online edition of India's National Newspaper Sunday, Jan 10, 2010 ePaper | Mobile/PDA Version |
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NEW DELHI: The Union government was looking at relaxing regulations to help non-resident Indians (NRIs) to invest and participate in the growth of education sector, Planning Commission Deputy Chairman Montek Singh Ahluwalia said, while addressing a session at the Pravasi Bharatiya Diwas here on Saturday. “The NRIs need to play a major role in the expansion of our education system and improve quality of skill development, which was required to achieve 10 per cent growth in the 12th Five-Year Plan (2012-17). There are regulatory constraints that may come in the way in making it possible, but we are working at relaxing them,” Mr. Ahluwalia said. He asserted that skill development was a must if India wanted to achieve 10 per cent economic growth, or else industry and other sectors would run into skill constraints. “Therefore, massive expansion of education system was mandatory to achieve desired growth,” he added. Mr. Ahluwalia said efforts would be made to achieve 9 per cent growth by the end of the 11th Plan (2007-12) and 10 per cent growth rate in the next Five-Year plan. “Indian economy was expanding by 9 per cent before the global financial meltdown hit the world and pulled down India’s GDP growth rate to 6.7 per cent in 2008-09,” he added. Addressing another session, Union Health Minister Ghulam Nabi Azad asked the NRIs to invest in pharmaceutical sector which has immense potential. “India has the capacity to manufacture medicines at competitive prices, while drugs worth $ 80 million would soon go off-patents. Therefore, there is a big opportunity for investment in the drug manufacturing sector,” he said. Pointing out that the government initiated the process of streamlining and strengthening of the drug regulatory framework, Mr. Azad said: “Regulatory norms and procedures are being harmonised with the international requirements. With price advantage, investors will gain by making India their manufacturing base” He also urged the NRIs to explore India as a destination for medical education. “Although the National Rural Health Mission has added over 15,000 doctors and more than 70,000 nurses in the last two years, we are still faced with a shortage of trained and qualified manpower at all levels,” he added.
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