Prime Minister of India - Dr. Manmohan Singh

PM's remarks at Hiren Mukherjee Memorial Lecture 2010

"For me it is a moment of great personal happiness that we are gathered here to listen today to my dear friend of more than half a century. Jagdish and Padma are like members of family to me. Both are great and proud Indians and have served this nation in many ways, even from distant lands.

Jagdish and I first met at Cambridge University in England in 1955. He is younger to me, but he was my senior at college. Jagdish and I were also colleagues at the Delhi School of Economics. Though both Jagdish and I returned home to teach, we did engage actively in processes of policy-making. We went our different ways only in the 1970s, when I joined government and he went abroad.

Jagdish has since earned for himself an enviable place in the world of economics. As a trade theorist he is in a class of his own. He has not only influenced international trade theory and become a familiar name in every economics classroom across the world, but he has also helped shape trade policy. He is among the architects of the World Trade Organisation, and continues to guide it.

He and Padma were pioneers among economists who questioned the efficacy of the Licence-Permit Control Raj. Their highly influential book became the beacon for policy reform in India . He was among the first to study the phenomenon of 'brain drain' and identify its benefits for our economy.

Today we in India are experiencing the benefits of the reverse flow of income, investment and expertise from the global Indian diaspora. The problem of 'brain drain' has been converted happily into the opportunity of "brain gain". We are drawing on the global "brain bank" of people of Indian origin world wide. Jagdish Bhagwati is one of the shining stars of that community of global Indians.

Professor Bhagwati is a true patriot, a loyal son of our Motherland and a truly liberal and secular Indian. Over the years I have greatly benefited from his expertise and his incisive analysis of the Indian and the state of world economy. He has combined his commitment to academic rigour and discipline with an equally passionate commitment to popular education. He has sought to engage his critics and win them over with his persuasive intellectual skills and his gracious charm and good humour. You will be witness to both his wit and wisdom.

I have been a proud member of our Parliament for nearly two decades now. It is not often that I have had the opportunity to welcome a college-mate of such great distinction to these august premises. Today ladies and gentlemen I am truly delighted to have this unique opportunity and honour! I thank you."