STOCK MARKET BSE NSE

Modi Urged to 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.

Published: 26th May 2014 02:06 PM  |   Last Updated: 26th May 2014 02:06 PM   |  A+A-

By IANS

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.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

IPL_2020
flipboard facebook twitter whatsapp