'Brain drain is now brain gain'

The migration of Indians abroad, once seen as a 'brain drain', has today become a 'brain gain' because the diaspora has contributed significantly to the development of India, Union finance minister Pranab Mukherjee said on Sunday. HT reports.

The migration of Indians abroad, once seen as a 'brain drain', has today become a 'brain gain' because the diaspora has contributed significantly to the development of India, Union finance minister Pranab Mukherjee said on Sunday.

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Delivering the keynote address at the plenary session "Inclusive Growth: Two Decades of Economic Liberalization" at Pravasi Bharatiya Divas, Mukherjee said in the 1970s, when Indians began moving abroad, the government was warned about the 'brain drain'.

"We did not attempt to stop this migration … The movement is not unidirectional. Today the brain drain has become a brain gain not only for India but the world, with many NRIs returning to their homeland, bringing back valuable knowledge and international exposure."

Mukherjee proposed the creation of a women's self-help group fund with a corpus of R500 crore for empowering women and facilitating their inclusion in economic growth.

Moderating the session, minister for overseas Indian affairs Vyalar Ravi expressed the need to share the benefits of India's economic growth with its most important stakeholders.

Union minister for road transport & highways CP Joshi highlighted the opportunities available for overseas Indians to invest in the roads and highways sector and its potential benefits to the rural community.