Britain needs to attract more foreign talent if it wants to meet the growing economic challenge of countries like India and China, the government said on Wednesday. Trade and Industry Secretary Patricia Hewitt said that while the British economy was flourishing, more had to be done to make sure the country remained competitive against newly emerging economies where costs were much cheaper. "The global economic map is being redrawn. China is becoming one of the world's largest economies, India is producing three million highly skilled graduates a year," she said at the launch of her five-year plan for British industry. She said that Britain would put forward in the next few months proposals to attract global entrepreneurial talent and academic expertise to the UK and establish a comprehensive policy toward the recognition of foreign credentials. Together with the Home Office, the Department of Trade and Industry (DTI) would develop policies to attract and retain foreign students who successfully complete a PhD in a shortage subject, like maths or science, at a recognised British university. "We're sending a strong signal to scientists around the world that the UK is the place to carry out research in leading edge areas -- such as nanotechnology and stem cell research," Hewitt said. Countries like Canada have long tried to attract a set number of immigrants each year, earmarking a percentage of skilled workers. But Hewitt denied that enacting such policies would lead to a "brain drain" from poorer countries as the most qualified workers sought to settle in Britain. "We're not looking to strip developing countries of their desperately needed skilled people," she said.
