Tuesday, January 09, 2007: Minister of State for Industry Ashwani Kumar was upbeat about the quantum of investment expected from NRIs in the next three years. He shared this information with the media during the ongoing 5th Pravasi Bhartiya Divas in New Delhi.

As compared to the investments that were $3.5 billion last year, the Government expects figures to touch $20 billion in current fiscal. They are planning to mark the target by facilitating policies suiting to NRIs. All investments by overseas Indians will now share the same status as those enjoyed by Indian citizens. Also, portfolio and real estate investment will be permitted for NRIs.

During the session, the minister referred to the large knowledge workforce returning home in view of better employment opportunities in India. 30,000 IIT graduates alone have resettled in India in the last couple of years. A knowledge exchange between the local workforce and the returning Indians could be used productively, he stated.