‘Allow foreign varsities in TN to aid growth’

‘Allow foreign varsities in TN to aid growth’

Rather than TN being dependant on the Centre for funds, the State must look at creating an eco-system locally in addition to enhancing skills of local talent.

Published: 16th December 2021 03:06 AM 

By Express News Service

CHENNAI: The Tamil Nadu government should tap the resources of the State’s diaspora and also allow foreign universities to set up their outposts to make TN the hub for research and development, according to former Reserve Bank of India Governor Raghuram Rajan.

Speaking during a virtual conference on research as an engine for growth of TN, organised by the Madras Chamber of Commerce and Industry here on Wednesday, Rajan, who is also a State Economic Advisory Council member, said the State could keep the homegrown talent in India by allowing foreign universities.

He said the State has power to allow foreign universities and the government should go in for open licensing to allow a Stanford or Massachusetts Institute of Technology or Caltech to come up. “It could be useful and will be a source for value addition,” he said.

Rather than TN being dependant on the Centre for funds, the State must look at creating an eco-system locally in addition to enhancing skills of local talent. Rajan also pushed for a need to create an environment in Chennai similar to what was done to nurture Silicon Valley.

Speaking during the occasion, Finance Minister Palanivel Thiagarajan said the need is to focus on creating an ecosystem of excellence.