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.