Will Modi utilise resources of Indian diaspora?
Will Modi utilise resources of Indian diaspora? A Sharjah-based diaspora organisation has urged Prime Minister-designate Narendra Modi to utilise the resources of Indian diaspora for national development like China did to attain its economic supremacy.
Thiruvananthapuram: A Sharjah-based diaspora organisation has urged Prime Minister-designate Narendra Modi to utilise the resources of Indian diaspora for national development like China did to attain its economic supremacy.
"We request more concessions to NRIs for bringing foreign currency into the country. The non-resident Chinese played an important role in the present economic supremacy of China," Pravasi Bandhu Welfare Trust said in its memorandum to Modi.
"India never made any such attempt to effectively utilise the resources of diaspora for the national development," PBWT chairman K.V. Shamsudheen said in his memorandum.
"We request the new government to encourage the businessmen here (India) to join hands with NRIs, for expansion and diversification of their existing ventures. These joint ventures will create new synergy in Indian industry," said the PBWT.
The PBWT demanded exemption from short-term capital gain tax for investment in capital market, approval for the diaspora to invest in Public Provident Fund, and setting up of pravasi housing complexes.
Besides, it urged the new government not to send unskilled and domestic workers abroad.
It said the outgoing United Progressive Alliance "government has failed" in tapping NRI resources, and "during the last Pravasi Bharatiya Divas, you had promised that when you will be in power, you will address all our issues. So,...NRIs from all over the world are eagerly waiting for your response to this representation," it said.
The PBWT was established in 2001 for the welfare of the NRIs.
Estimated at over 30 million, the Indian diaspora community is today diverse and heterogeneous, representing various regions, languages and cultures.