|
NRIFocus.com Non Resident Indian Connection India; Gifts to India; Travel to India; Travel Insurance; India Music; India Movies; Gifts to USA; Phone Cards; Immigration; H1B; USA Visas; Travel India; India Discussion; India IT; India Software; IT training; Biotech. |
||
|
|
Sponsored results:- |
|
|
Achieve Success Easily |
India expects $500 Billion remittance from
NRIs The Indian government expects overseas Indians to pump in about US$500 billion into the burgeoning forex reserves of the country in the next 10 years, making them the single largest source of foreign receipts. But sources say, NRIs are tired of being getting exploited by their government. NRIs are considered “cash cows ready to be milked”. The NRIs are also exploited by their own family. The family demands money on a regular basis. The perception is that these expatriates earn easy money. They convert their earnings in dollar or euro into India Rupees and preach the idea that the expatriates are billionaires. The native Indians just forget that the expatriates have to pay their living cost in dollar or euro or UK pounds. The expatriates have a life of their own. They are not simply cash cows ready to be milked! "We expect Persons of Indian Origin to send US$500 billion alone to India in 10 years time," Overseas Indian Affairs Minister Jagdish Tytler said at an interactive session with Forum of Financial Writers here. Tytler said PIOs remitted US$26 billion to India in 2003-04 and US$93 billion during 1999-2004. "We have opened up all the sectors for Non-Resident Indians for investment except agriculture," Tytler said. On the education problems faced by expats, particularly in Gulf countries, Tytler said his ministry is closely working with other ministries for providing educational facilities to the children of NRIs. "We are exploring all the possibilities like recognising educational institutions set up by PIOs abroad or in India, besides helping them to tie-up with big educational institutions in the country," he said. PIOs will invest in the educational infrastructure; government will facilitate the process by making necessary changes in the law. Government may also consider creating ''Educational Free Zones'' for setting up educational institutions by PIOs. Tytler said government has implemented several welfare measures like revoking tax on interest earned on inward remittances in Indian banks. Fulfilling the demand for cheaper airfares, Air India Express, the budget airlines has started operating direct flights to destinations in Gulf from Kerala, he said. Report dated June 28, 2005 |
|
|
ERP SAP Software Discussion. |
||
|
Helpful info on cruises. |
||
|
NRIFocus is operated by selftalksecrets.com llc. All rights reserved. Articles are Courtesy: www.nri-worldwide.com ©2000-2005 nri-worldwide.com |
||