PTI
 
Hyderabad, Jan 8: Time has come to get the scientific community of Indians overseas engaged in the development of India, leading NRI industrialist and Chairman of Hinduja Group, S P Hinduja said in Hyderabad on Sunday.  

"For India to succeed in the coming decades, it needs to transform itself from being merely the `shop floor of the world to an owner of an intellectual property and technology," Hinduja said adding, "the vast pool of scientific Indian manpower in foreign lands can be channelled to constitute the cutting-edge of technology for solving India’s many social problems such as drinking water and sanitation."

"This pool of scientific talent can propel India into the forefront of the new age with alternative sources of energy or with biotechnology," Hinduja said.

He also stressed the need to create research institutes overseas with state-of-the-art facilities and appropriate compensation levels, with support from both the Indian Government and Indian private enterprises.

"We then need to engage our Indian scientists to join these institutes overseas for developing cutting-edge technologies, both for use by India and for sale in the world markets. Only then will we be able to harness the talent and potential of Indian scientists and technocrats overseas for our country’s full benefit, and for the further enhancement of our growing image in the world," Hinduja said.

He said big opportunity is awaiting NRIs in furthering the acceleration of India’s trade and economy.

"Notwithstanding the image of a closed economy, India’s external trade is as much as that of the United States in volume. It constitutes approximately 25 per cent of the Gross Domestic Products (GDP)," Hinduja said.