Inaugurating the sixth Pravasi Bharatiya Divas, Prime Minister Manmohan Singh also announced a proposal to promote an 'India Development Foundation' to direct overseas Indian philanthropic efforts into human development activities in the country.

"The Council would comprise of People of Indian Origin from a variety of disciplines who are recognised as leaders in their respective fields, not only in their country of residence but globally as well," Singh told Indian diaspora gathered in Delhi for the annual event.

Addressing the gathering, which included Leader of the Opposition L K Advani and Gujarat Chief Minister Narendra Modi, Singh said the Council would serve as a high-level platform for the Prime Minister to draw upon the experience and the knowledge of the best Indian minds wherever they may be based.

Over 1,500 delegates from about 50 countries are participating in the event, organised on January 8-9 every year to mark the return of Mahatma Gandhi from South Africa to India, where he led the struggle for freedom some hundred years ago.

Terming the Pravasi Bharatiya Divas a "special day", the Prime Minister said the country took pride in the achievements of the PIOs and noted that "we seek to encourage in every possible way our links and relations with overseas communities of Indian origin."

"It is also our sincere desire to benefit from the vast reservoir of technological, managerial and entrepreneurial skills represented by overseas Indian communities," he said.

Singh particularly referred to women achievers Indira Nooyi, Sunita Williams, Kalpana Chawla and Jhumpa Lahiri and said they have became role models for the society to give women a rightful place.

He said the Overseas Indian Affairs Ministry is examining a proposal for setting up the India Development Foundation as a non-profit trust to serve as a "credible institutional mechanism to direct overseas Indian philanthropic propensities into human development in the country".

"The Foundation will assist overseas Indians to contribute to the cause of education, health and rural development in their home village, district or state," he said.

Singh also informed the gathering that the government has approved the policy framework for setting up a PIO university in the country for the benefit of children of overseas Indians from across the globe, a proposal which he had announced last year.

"I am confident the work of the University will commence this year," he added.

Mauritius Prime Minister Navinchandra Ramgoolam, the chief guest of this year's function, said, "there is a new vibrancy, vitality, confidence and hope in this country and it is palpable to everyone visiting India."

"My plea to Indian diaspora is to grab this opportunity and get involved with India and one another.... We owe it to this country," he added.

This year's Pravasi Bharatiya Divas will focus on social development issues as well as economic partnership between India and its diaspora.

Singh also announced launch of an "Overseas Workers Resource Centre" which would provide relevant information and assistance to potential migrant workers and operate a multi- lingual helpline for grievance redressal and intervention for overseas Indian workers in distress.

"The security and welfare of Indian residents living abroad is a top priority for our diplomatic missions," he said asking community leaders to develop better liaison with Indian missions to better serve non-resident communities.

An economist, Singh said the conditions in the country were favourable to achieve and sustain 9 to 10 per cent growth rates. "The growth process now underway will transform our economy to emerge as a major powerhouse of the evolving globalised world."

"The ambitious growth rate that we seek to achieve will require determined efforts to raise our savings and investment rates. The bulk of resources for India's development must come from home.

"However it is our sincere desire to create a framework which will provide profitable opportunities for overseas Indians to invest in India's development," he said.

Minister of Overseas Indian Affairs Vayalar Ravi said the Government has already entered into bilateral agreements with GCC countries like UAE, Kuwait and Qatar to ensure protection and welfare of Indians working there.

Similar agreement is also likely with Malaysia, Oman and Bahrain in the near future, he added.

He asked overseas Indian to contribute in their own way to India's growth story. "We will build a strong partnership with overseas Indian community on rural development," the minister added.

Delhi Chief Minister Sheila Dikshit sought the help of overseas Indians in improving the national capital's transport system to "decongest Delhi".

"We welcome any organisation, country to help us set up, in addition to metro and high capacity bus, other systems of transport like monorail to help decongest Delhi," the chief minister said.