‘Brain drain’ has now become a ‘brain gain’, says Narendra Modi

New Delhi: Seeking to position India as global provider of talent, Prime Minister Narendra Modi on Thursday pressed for mapping of human resources to develop region specific talents and making the nation a services exports hub.

He also pitched for making India a hub for global arbitration and asked lawyers not to be scared of foreign competition.

The Prime Minister said this while inaugurating the Global Services Exhibition here

"There is immense scope in the services sector...India's human resource is our biggest strength," the Prime Minister said, stressing that the "brain drain" has now become a "brain gain".

Observing that in the coming days India is going to get younger, Modi said: "We need to focus on this aspect while thinking about our development journey."

As a country, he said, there was a need to think of "multiple layers of services" which can be exported to the world.

Elaborating on mapping of services, Modi said people of different regions have different talents and the effort could be made to develop those specific skills to take advantage of the requirement of the global community.

Seeking to allying fears that opening of legal services would result in dominance of foreign lawyers, Modi said that they were unfounded.

He further said that India could become a hub for global arbitration with changes in the legalisation.

The government has already introduced amendments to the Arbitration and Conciliation Act, 1996 in the Lok Sabha to encourage the international business community to settle commercial disputes in India.