How Indian Diaspora contribute to National Growth

By Srikant Mohanty: Although India remained a colony of the British Empire for a long time, a sizable population migrated to different nations at that time. After independence, migration continued unabated and went leaps and bounds, when information technology made headway during late eighties and early nineties.

Today, Indian Diasporas literally exist in every part of the world.  During the colonial days of British Raj in India, thousands flocked to Great Britain, South Africa and United States of America and now-a-days, they hold sway in the world economy because they prospered and flourished greatly in those distant lands.

Renowned author Stephen Cohen’s study in his book “Emerging power India” accounts for the major contributions made by Indians living in Europe. The Indian Diaspora consisting of two million people in US is highly educated and experienced in various fields. Other developed nations like Australia, England and Canada have an equally strong Indian Diaspora with impressive positions on different fronts of those nations. The important thing is they always strive for better diplomatic and trade relations with their home for which Indian economy has increasing levels of support on different heads.

A study made in the year 2000 observes that the economic output of the NRIs and PIOs living abroad is 400 billion, which can stand almost equal to the total GDP of India.  It need not be considered from the point of view of remittances made by the Diasporas to India, the India Inc stands prepared to make major contribution in FDI that can considerably remove poverty, unemployment and corruption in this sub-continent.”Indian Diaspora in US has emerged as the richest community in the recent times with almost 2, 00,000 millionaires in them”-says Pawan Verma, an expert in Foreign Affairs. As Indian economy stands rock solid in the hard times of recession, there has been a school of thoughts that Indian Diaspora can give valuable insight in fighting the downturn in global economy.

Often a comparison is made between the two growing economies in the world- China and India. As both the nations have their Diasporas across the world, India lags miserably behind China in FDI. Only 5% of the NRIs wealth gets placed in FDI in India, while China has gone far ahead in this regard. The reason can be China started off its process of economic linearization two decades earlier than India for which it has met with greater success.

The Indian Diaspora living in the Europe consists of highly qualified professionals with potential wealth and there are considerably powerful groups of workers living in the Gulf nations. With their collective wealth, the nation can achieve significantly on fronts like Energy development, urban infrastructure, water projects development and programmes for poverty alleviation.

“As India held the three days Bharatiya Prabasi Divas between 7th and 9th of January, 2013 at Kochi in Kerala, Indian leadership keeps its hopes pinned on the FDI aspect that can bail the nation out of every major crisis. It is being compared with the valuable help and guidance that Mahatma Gandhi rendered to the nation from his return from South Africa to make it free from foreign dominion”-remarks Sushanta Panda, a faculty of Economics at Bhubaneswar.

Comments

comments

Leave a Reply

000-017   000-080   000-089   000-104   000-105   000-106   070-461   100-101   100-105  , 100-105  , 101   101-400   102-400   1V0-601   1Y0-201   1Z0-051   1Z0-060   1Z0-061   1Z0-144   1z0-434   1Z0-803   1Z0-804   1z0-808   200-101   200-120   200-125  , 200-125  , 200-310   200-355   210-060   210-065   210-260   220-801   220-802   220-901   220-902   2V0-620   2V0-621   2V0-621D   300-070   300-075   300-101   300-115   300-135   3002   300-206   300-208   300-209   300-320   350-001   350-018   350-029   350-030   350-050   350-060   350-080   352-001   400-051   400-101   400-201   500-260   640-692   640-911   640-916   642-732   642-999   700-501   70-177   70-178   70-243   70-246   70-270   70-346   70-347   70-410   70-411   70-412   70-413   70-417   70-461   70-462   70-463   70-480   70-483   70-486   70-487   70-488   70-532   70-533   70-534   70-980   74-678   810-403   9A0-385   9L0-012   9L0-066   ADM-201   AWS-SYSOPS   C_TFIN52_66   c2010-652   c2010-657   CAP   CAS-002   CCA-500   CISM   CISSP   CRISC   EX200   EX300   HP0-S42   ICBB   ICGB   ITILFND   JK0-022   JN0-102   JN0-360   LX0-103   LX0-104   M70-101   MB2-704   MB2-707   MB5-705   MB6-703   N10-006   NS0-157   NSE4   OG0-091   OG0-093   PEGACPBA71V1   PMP   PR000041   SSCP   SY0-401   VCP550  100-105  , 70-486   c2010-657   70-178   OG0-091   70-178   JN0-360   ICBB   1z0-808   300-075   200-125  , 70-346   000-017   JN0-360   350-050   1Z0-061   220-901   700-501   640-911   101-400   220-901   350-030   ITILFND   400-201   220-801   70-488   210-065   HP0-S42   350-080   102-400   70-417   70-270   3002   640-692   1Y0-201   AWS-SYSOPS   2V0-621   000-089   200-101   70-533   70-488   CAP   210-260   300-070   102-400   70-980   70-346   102-400   300-209   SY0-401