![]() Financial Daily from THE HINDU group of publications Sunday, Jan 08, 2006 |
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Industry & Economy
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NRIs Money & Banking - Forex Knowledge network, voting rights for overseas Indians soon: PM Easy remittance facility, special insurance planned Our Bureau
NEW STATUS FOR DIASPORA: The Prime Minister, Dr Manmohan Singh, handing over the first Overseas Citizenship Card and a passport to Ms Nivruti Rai, Senior Manager, Chipset Group, Intel India, at the Pravasi Bharatiya Divas in Hyderabad on Saturday. - Mohammed Yousuf
Hyderabad , Jan. 7 THE Prime Minister, Dr Manmohan Singh, has assured the Indian diaspora of creating a knowledge network, providing voting rights at home, modernisation of emigration process and streamlined procedures to cover remittances and insurance. Speaking at the Fourth Pravasi Bharatiya Divas today, Dr Singh said the Knowledge Network could provide a dynamic framework within which the users and providers of knowledge can discover each other and work together in areas such as healthcare and education. With over 20 million people of Indian origin living overseas, about 5 million of them working across 110 countries, remittance inflows have increased from $13 billion in 2001 to over $20billion in 2005. Dr Singh said the Government proposes to provide an easy remittance facility, a special insurance policy that would be launched later in February while modernising the emigration process. "Overseas Indians have played an extremely important role in global brand building. It is proposed to create networks among professionals to ensure collaborative efforts. As a part of such drive, an MoU between the Ministry of Overseas Indian Affairs and the American Association of Physicians of India origin is being signed," he said. Global connectivity and globalised activity capture the face of a new India. Hyderabad symbolises the essence of this feature. Given the potential of overseas Indians and their ability to contribute to this growth, we need to explore opportunities to collaborate and expand this role," he said. The Minister for Overseas Indian Affairs (MOIA), Mr Oscar Fernandes, said Indians living overseas have diverse issues and we need to work out ways to address their specific requirements. To understand their requirements, partnerships with Nasscom, FICCI and CII would help. The South African Freedom Fighter and a contemporary of Nelson Mandela, Mr Ahmed Katrada, who was the chief dignitary said that India and South Africa have many similarities in freedom struggle. Quoting Nobel Laureate, he said "world spends about a $1 trillion on arms. And, if 1 per cent of this is diverted, no child on earth will go hungry." The AP Chief Minister, Dr Y.S. Rajashekara Reddy, said with growing outsourcing business both in the manufacturing and services sectors, India has a very bright future where Indians abroad can play a large role.
Overseas Citizen status Delivering on the promise to grant the status of overseas Indian last year, Dr Singh handed over the first Overseas Citizen of India status to Ms Nivruti Rai, a senior manager - Chipset Group, Intel India. Based in Bangalore, Ms Rai lived in the US for more than 15 years. Along with her, Ifthekar Ahmed Sahreef, a US businessman, was awarded similar status. They do not have to secure visa now, as they have multiple-entry visas.
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