High end skills in India are in short supply in most areas, whether we think about university professors or financial regulators. One element of addressing these shortages is to recruit globally. I just saw the following news:
Adam Posen has been appointed an External Member of the Bank of England's Monetary Policy Committee (MPC) for a three-year term beginning September 1. The MPC, akin to the Federal Reserve Board of Governors in the United States, is the Bank of England's interest-rate setting body. Dr. Posen, a US citizen, was selected for the position through an open competitive process for external appointments, ahead of 49 other applicants from the United Kingdom and around the world.