Date: March 26, 2021, New Delhi, A distinguished panel at the event: Dr Sanjaya Baru Distinguished Fellow, Institute for Defence Studies & Analysis Dr Sanjaya Baru is a renowned journalist, author, and policy expert, who served as Media Advisor to PM Manmohan Singh (2004-08). He is a Ph.D. in Economics from JNU, He is the Author of the book ‘The Accidental Prime Minister’.
Prof. Amitabh Mattoo Professor at Jawaharlal Nehru University, he is a distinguished professor of Disarmament Studies at JNU. He specializes in international security, India's foreign policy, and arms control. He has served as a visiting professor at prestigious institutions like Stanford University and the University of Notre Dame. He is the accomplished author of 10 books and over 50 research articles.
IIa Patnaik She is a Professor at the National Institute of Public Finance and Policy (NIPFP) and has served as the Principal Economic Advisor to the Government of India from 2014 to 2015. She has worked with NCAER, ICRIER, and as the economics editor at The Indian Express. Her research focuses on open economy macroeconomics and other important subjects.
Deepak Kumar He is a Professor of the History of Science and Education at JNU. He is a distinguished academician with many years of consolidated experience in his field. The world has undergone a paradigm shift after the pandemic, with many challenges rising, particularly on the economic front. Think Change Forum, an independent think tank, is facilitating solutions for fast-tracking the Indian economy in this post-pandemic world. Given this objective Think Change Forum launched an initiative titled ‘Rebooting Indian Economy in the Post-Pandemic World’ in the event financial experts, economists and distinguished luminaries from other fields with an integrated approach touched on various issues including discussions on policy and social shifts to arrest capital drain – both intellectual and financial for building a New India. At the event, the experts looked at select areas of the economy that they thought are the key to accelerating the pace of growth for the country. The experts believed India will be a fulcrum in the post-pandemic world and will play a major role in the restructuring process. The discussions at the event also centred around on what are the areas of the economy that could have a catalyst effect in propelling the Indian economy promisingly forward. The inaugural webinar saw interesting discussions by luminaries like Dr Sanjaya Baru, economist, NIPFP professor, Dr Ila Patnaik; International Relations expert Prof. Amitabh Mattoo; and the noted historian of science and education Prof. Deepak Kumar the panel discussed Dr Sanjaya Baru’s discourse, ‘The Secession of the Successful’ here experts gave their views on the issue of draining of capital both intellectual and financial out of India and the related solutions for this problem. At the event, the experts stressed the concept of ‘Aatmanirbhar Bharat’ to stop the flow of intellectual and financial resources out of the country. The learned panel at the event observed that the classic drain out of the country previously was due to poverty and lack of opportunities, but now well-educated individuals don’t think twice about leaving for greener pastures outside the country.
The panel further observed that HNW Indians are now going for dual passports. The panel at the event further discussed issues like children from affluent families going abroad for higher education but never returning to the country after their education abroad.
At the event noted International Relations expert Prof. Mattoo had an interesting observation, he said top industrialists preferred to reside abroad but set up business in India, thus enjoying the comfort and convenience of both worlds.
NIPFP professor, Dr Ila Patnaik at the event observed that rebooting India was connected to stopping the flight of intellectual capital and financial capital to other countries, and for that to happen conducive tax or regulatory environment must be created.
The panel also touched on a very important aspect related to stopping the intellectual drain out of the country it involves motivating global companies to set shop in India so that local talent finds jobs in these global companies in India itself. At this first webinar, Prof. Deepak Kumar believed brain drain can only be stopped through strengthening of educational institutions of the country.
Overall, the first webinar was a resounding success as the discussions emanating from the event provided refreshing and actionable insights that were needed for rebooting the Indian economy.
A recorded version of the first webinar can be accessed at the YouTube channel of the Forum: https://bit.ly/3chNmsC