The Hindu Business Line : `People of Indian origin to play larger role in development'

THESE are eventful days for some 21 million people of Indian origin (the Indian diaspora) spread over 110 countries with an estimated combined income of $160 billion as GOPIO (Global Organisation of People of Indian Origin) gathers momentum and clout.

This was highlighted at the GOPIO Brussels conference, which was inaugurated by Mr Jagdish Tytler, Indian Minister for Non-Resident Affairs, and Mr R.M. Abhyankar, Ambassador of India to the European Union. The GOPIO conference was organised by Mr Sunil Prasad, President of GOPIO - Belgium and head of unit in ICFTU. Around 200 delegates from Western Europe, West Asia, the US and Africa participated in the one-day conference.

Mr Tytler outlined the current and future strategy of India to ensure a better dialogue and co-operation between overseas Indians and the Indian Government.

It is now realised - on both sides of the Indian fence - that successful overseas Indians could support India's development through investment, trade and in areas of professional expertise like healthcare, medical research, engineering and manufacturing, as the Indian economy is seen gathering new pace and momentum.

Currently, India gets about $4 billion of foreign investment of which the contribution of overseas Indians varies between 9 and 15 per cent. This is often rated as "very modest" compared to what the overseas Chinese community invests in China. The overseas Chinese, by comparison, are responsible for about 50 per cent of some $48 billion overseas investment China attracts. The other half of $48 billion mainly comes from the US, the European Union and Japan. Many European companies are currently using Chinese companies and families living in Singapore, Hong Kong and other parts of Asia as a "piggy-bank" to enter the complex Chinese domestic market.

GOPIO can play a more positive role in this endeavour and also pave way for a more pragmatic dialogue between the European commerce, industry and government institutions. The Indian diaspora presence in Britain is more pronounced with a commendable economic profile but there is still a "lack of dialogue" between both sides of the Indian fence. It is not often realised that second and third generation of Indian immigrants who have been born and brought up in Europe and North America are fast growing up and have no real contact with India except through some Bollywood movies.

The Indian diaspora is rated as affluent and this is evident in the lifestyle of the Indian communities dotted in parts of the European Union, North America and Africa. This does not mean that there are no poor sections of the Indian diaspora, but according to analysts, they are fast catching up. In South Africa, for example, out of nearly one million people of Indian origin, more than a quarter is rated as higher middle-class.

The enlargement of the EU offers both opportunities and challenges for the Indian diaspora and several speakers at the GOPIO conference here echoed these sentiments with varying degree of emphasis. China's trade and investment profile in the EU is roughly six times larger than that of India, but there is also growing awareness about the "Indian potential".

Today, the EU, led by France, is seen playing the "China Card" as the French President, Mr Chirac, travels to China this week, with a huge delegation highlighted by weeks of press coverage. As a French academic and China expert pointed out: "For France, China has become an economic and strategic priority in the global order currently dominated by the US." France is no exception and China fever is gripping Europe with many exchanges of delegations.

As a GOPIO delegates put it: "India is certainly lagging behind."

A recent study by Goldman Sachs projects that China's economy will have surpassed all of today's economic giants by 2050, though it will still lag behind them in terms of per capita wealth. China's economy will hit the $55-trillion mark by 2050, the US $33-trillion mark and India $28-trillion mark. This is the silver lining for second and third generation Indians and GOPIO can play a leading role in paving way for a smoother dialogue between India and its talented and resourceful diaspora. This was the message at the GOPIO conference here.