Prime Minister Manmohan Singh is confident of India returning to a higher growth path on account of strong economic fundamentals backed by sound policies.
Addressing the 11th Pravasi Bharatiya Divas here on Tuesday, he said that new approaches would be needed to address challenges in infrastructure, education, energy, water and agriculture to sustain the annual growth rate of eight per cent.
The Government, despite domestic constraints and challenges, has recently taken a number of steps to boost domestic and foreign investment, accelerate project implementation and reform capital markets and the tax system, he said.
“This is an imperative for us because we need rapid growth and a healthy economy to meet the aspirations of an increasingly young India and make our economic development more inclusive and more sustainable,” Singh said.
In spite of the continued focus on rural areas, the Prime Minister also stressed the need for paying greater attention to the expanding cities and towns.
Releasing a special postage stamp at the function commemorating the Ghadar Movement, the Prime Minister said the Government would upgrade the Ghadar Memorial in San Francisco into a functional museum and library with a sculpture to honour the Ghadar Babas, the heroes of this national movement.
Mauritius President Rajkeswur Purryag said that his country will support India in its endeavour to get a permanent seat in the UN Security Council.
Speaking on the occasion, Vayalar Ravi, Union Minister for Overseas Indian Affairs, said that his Ministry was signing two more Social Security Agreements with Austria and Portugal in the next couple of months to protect the interest of Indians abroad.
The Ministry has so for signed such agreements with Finland, Canada, Japan and Sweden and is also in the process signing similar agreements with Gulf countries.
The Minister also stressed the need to change the emigration system to address the needs of all concerned with the process of emigration. “We have worked a law in this regard and we hope to finalise it soon,” he added.
Kerala Chief Minister Oommen Chandy highlighted the plight of overseas Indians especially from the Gulf sector due to cancellation of Air India flights without proper notice. The lack of adequate staff in Indian Embassies in the Gulf sector is also posing a problem, he said.
Chandy also sought a hike in the limit of the quantity of customs free gold import in view of the substantial increase in gold prices.