OP Bhatt, chairman of the State Bank of India, Mervyn King, governor of the Bank of England, Kamal Nath, minister for commerce and industry for the Indian government, YV Reddy, governor of the Reserve Bank of India, and Nicholas Stern, LSE, participated in a discussion at LSE on Monday 15 October. The event was entitled India at 60 in a Changing World: next 20 years.
This event marked the launch of the India Observatory (IO) at LSE. The IO has been set up in partnership with Reserve Bank of India (RBI) and State Bank of India (SBI). Professor Sir Nicholas Stern was announced as IG Patel Chair in Economics and Government and Director of the IO at the School's Asia Forum in New Delhi in December 2006. He took up the position in June 2007.
The India Observatory will play a vital role in sustaining and developing LSE's long standing partnership with India. It aims to foster research related to India, to promote a vibrant intellectual engagement between the UK, Europe and India, and to participate in wider international research networks, as well as facilitating research training and knowledge exchange.
Speaking at this event were:
OP Bhatt, Chairman of the State Bank of India
Mervyn King, Governor of the Bank of England
Kamal Nath, Minister for Commerce and Industry for the Indian government
YV Reddy, Governor of the Reserve Bank of India, and
Nicholas Stern, IG Patel Chair in Economics and Government and Director of the India Observatory at LSE.
Howard Davies, Director of LSE, chaired the debate.
Professor Sir Nicholas Stern said: 'LSE and India have a close, warm and long standing relationship. India is changing very rapidly and India's change has a profound influence on the world's economies and societies. The Indian Observatory by promoting good research on India will deepen the relation between LSE and India still further, promote understanding of India in the UK and create new opportunities for Indian partners. The generosity and initiative of the RBI and SBI in supporting the India Observatory in honour of IG Patel is greatly appreciated.'
Dr Reddy said: 'The launch of the India Observatory at the LSE and the choice of the speakers are appropriate because, Dr IG Patel was not only Director of LSE, but was also governor of the Reserve Bank of India and was on the Board of State Bank of India.'
Mr OP Bhatt said: 'We are very happy to be supporting the IG Patel Chair and India Observatory at LSE. This is because of our love and affection for Dr IG Patel, based on his long association and involvement as a respected member on the Board of SBI. UK and India have been close associates for centuries. With the fast pace of globalization, as India seeks to position itself strongly in both the business and cultural aspects of life in UK, it is only natural for us to participate in such a partnership. We will be able to develop a stronger strand between the two economies.'
For more on the India Observatory see http://www.lse.ac.uk/IndiaObservatory/
The Asia Research Centre at LSE was co-founded by Professor Lord Meghnad Desai. Prime minister Manmohan Singh is an honorary fellow of the Centre. The Centre provides a platform for all Asia-related research and advises and consults with a wide range of national and international bodies on issues of international development, infrastructure and economic policy.
The Asia Research Centre has a long-standing research focus on India. Among a range of other sponsors, the Sir Ratan Tata Trust has been a supporter of the Centre for over a decade, generously providing funding for talented young Indian post-doctoral fellows to consolidate their research at the LSE in an international setting.
The School's strategy in India is to renew and develop our strong links with Indian academic institutions, government and corporate bodies to foster knowledge exchange and capacity building as well as contribute to the debate on broader policy issues. See www.lse.ac.uk/india
eGov Monitor (23 October)
India at 60 in a changing world - the next 20 years
Address by Dr Y V Reddy, Governor of the Reserve Bank of India, at the London School of Economics and Political Science, London, 15 October 2007.
Economic Times (17 October)
SBI may soon get govt nod to raise capital
Mr Bhatt was in London for the launch of the prestigious India observatory at LSE, and also to conduct the market opening ceremony at the London Stock Exchange on SBI's 11th anniversary of listing in London. The India observatory, which is intended to conduct India-oriented economic research and foster knowledge exchange, has been set up in memory of IG Patel, a former RBI governor and a former director of LSE.
Asia Pulse (17 October)
India Observatory launched at London School of Economics
To foster India-related research and knowledge exchange, an 'India Observatory' has been launched at the famous London School of Economics (LSE) here.
Trading Markets, USA (17 October)
Bhatt conducts market opening ceremony at LSE
17 October 2007