Govt to Come Up With More Consulates for NRIs

Govt
to Come Up With More Consulates for NRIs
Friday, December 22, 2006

Government is alls et to work on its big plans to open new consulates
and missions in countries where the populace of Non
Resident Indians (NRIs) has crossed half a million, say Vayalar
Ravi, Union minister for overseas Indian affairs.

The proposal on principle has got the nod from the Union Ministry
of Finance. Over the past few years, there has been an increase
in number of countries complaining a delay in consular services
which encouraged the authorities to draw this proposal. Considering
the same situation, the idea of more consulates seems more and more
appealing.

Ravi also talked about the fifth Pravasi
Bharatiya Divas (PBD), to be held in the Capital between January
7 and 9. The event will be inaugurated by the honorable Prime Minister
of India, Dr. Manmohan Singh.

There are around 254 million NRIs who are residing in 110 countries
with most of Indian workers working in the Gulf countries. Opening
of more consulates will also provide NRIs with the prospects of
making investments to develop Special Economic Zones (SEZs) projects.
Also, there is a large scope for these potential investors to pump
in the service sector, in hotels and in hospitals.

According to the data revealed by the Minister, $24 billion came
into the country as remittances in the year 2005. Of this amount,
nearly 45% was from the Gulf countries. Investments by NRIs are
likely to shoot up in the coming years.