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Mr A.V. N. Reddy, President, American Telugu Association, with the Chief Minister, Mr N. Chandrababu Naidu, at the convention in Hyderabad on Thursday. - A. Roy Chowdhury

Hyderabad , Dec. 25

THE Andhra Pradesh Chief Minister, Mr N. Chandrababu Naidu, in renewed efforts to woo non-resident Indians (NRIs), urged them to turn to their homeland and bring in investments as the climate had turned ideal for investments.

Speaking at a meeting organised by the American Telugu Association (ATA) here, Mr Naidu said that the State would facilitate and provide all help to the NRI community.

There was a time when Indians would make a beeline to study and work in the overseas markets, but the time is not far off when they could queue up to return home seeking opportunities in India.

Highlighting the initiatives taken by the State Government to strengthen the infrastructure across various spheres such as roads, airports, ports, and human resources, he said the reforms initiated by the Centre and the State would pave the way for a sustained economic development. "Gradually, we are moving to a situation, where the country will be able to achieve a GDP growth rate of about 9 per cent per annum and this will spur a lot of economic activity."

Though there are temporary concerns about job losses due to outsourcing, the advantages MNCs gain through outsourcing far outweigh the disadvantages. Therefore, MNCs would further champion the cause of Indian talent and continue to outsource. There is no option for matured economies such as the US and the UK but to seek to outsource their work, he said.

Citing a Goldman Sachs report, which has predicted that India had the potential to turn into a superpower by 2040, along with Brazil, China and Russia, Mr Naidu said this would be possible mainly due to the large human resource pool that India and China have. Many European countries are facing the problem of ageing and this means, the younger generation, who are relatively lesser in number, would have to meet the requirements of a larger population.

If you look at reforms and the positive aspects over the last decade, Mr Naidu cited the case of the open sky policy that was recently introduced for the SAARC countries, and said that this has kicked up interest in airlines in the region and already about 45 flights are operating.

Earlier, the President of ATA, Mr. A.V.N. Reddy, while highlighting some of the recent initiatives, including moves to partner with local NGOs for some social work, said: "In the next 20 years or so, we may find the second generation of Indians settled in the US scouting for job opportunities in India, given the transformed work and business environment."

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