To foster India-related research and knowledge exchange, an 'India Observatory' has been launched at the famous London School of Economics (LSE) here.
LONDON: To foster India-related research and knowledge exchange, an 'India Observatory' has been launched at the famous London School of Economics (LSE) here.
The obveservatory, expected to promote intellectual engagement between the UK, Europe and India, was launched last night with Commerce and Industry Minister Kamal Nath and Y V Reddy, Governor, Reserve Bank of India among other guests.
Speaking on the occasion, Howard Davies, Chairman, LSE, said, "The Centre would play a vital role in sustaining and developing LSE's long standing partnership with India.
"It will act as a hub to renew, engage and develop strong links with Indian academic institutions, government and corporate bodies to further knowledge exchange and contribute to the debate on broader policy issues by promoting and supporting an active engagement with India," he said.
The centre would also assist in wider international research works with partners in Asia and beyond, as well as facilitating research and training, Davies added.
Later, participating in a panel discussion titled 'India at 60 in a Changing World: next 20 years', Kamal Nath insisted India had not wasted the first four decades after independence.
"It was Pandit Jawaharlal Nehru's vision to build a strong industrial base and also build institutions and democracy in the country.
"In the second phase we launched the reforms. We are not only the largest democracy but we are also the rowdiest democracy. In the second phase we embarked on India-specific reforms", he said.
Nath said that in the next 20 years, India would be benefitting from its demographics.
"India has 400 million people below the age of 35 and the world's perception of India is changing" he said, adding, that Indians' perception of themselves was also changing.
Dr Y V Reddy said India had successfully contained inflation since independence, considering that it was confined to single digit in the first 43 years.
"The prospect in the next 20 years is bright," he said.
O P Bhatt, Chairman, State Bank of India, said Indian companies were currently probing all over the whole world for acquisitions and many multi-nationals were moving into India.
He said the country needed massive investment in improving its infrastructure, health services and public health facilities.
Besides, the country needed labour reforms, land reforms and computerisation of land registry, Bhatt said.
Mervyn King, Governor of Bank of England said Bank of England is keen to have a staff exchange programme with the Reserve Bank of India.
"India has a major role to play at the international level, whether it is at IMF, WTO or the United Nations", he added.
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