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NRI ‘Facilitation Centre’ to Come up in IndiaFriday, March 23, 2007
The Cabinet has approved the construction proposal of a facilitation centre for Non Resident Indians (NRIs). It is to come up as a trust, and will be a product by the Ministry of Overseas Indian Affairs (MOIA) in partnership with the Confederation of Indian Industry (CII). The facilitation centre envisions accomplishing several goals including promotion of NRI investments into India and maintaining a proper diaspora knowledge network. Development of the centre will be a nice move to facilitate business partnership between India and other countries. It will also assist the states to come about with excellent NRI investment prospects in the infrastructure and social sectors to offer an array of advisory services to Propel of Indian Origin (PIOs) and NRIs. The funds for the development of the centre will be provided by CII initially for three years and thereafter by the trust which is believed to become self-contained by the time. The office of the trust will be in the Capital City, New Delhi. Cabinet Approves the Proposal of University for PIOs The cabinet has also given a nod for the establishment of a university for Persons of Indian origin (PIOs) in the country. The university will be a part of a special economic zone (SEZ) as a deemed university de-novo under Section 3 of the University Grants Commission (UGC) Act and will serve as an institution of excellence. The university will be set up by recognized NRI trusts holding a large experience in the field of education under the supervision of the Ministry of Overseas Indian Affairs. There are near about 25 million Indians living in around 130 countries. Setting up such a university exclusively for PIOs and NRIs will help in developing bilateral links with India through the active participation of Diaspora. Learning higher studies is undoubtedly highly prohibitive in developed countries like US and Britain. Moreover, most NRIs are looking forward to return to India for studies for their children.
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