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Our Bureau

Felicitation centre for investment advisory services to be set up

New Delhi , Jan. 7

The Government on Sunday announced several benefits for persons of Indian origin that include lower air fares for domestic flights, even as it invited them to invest in India.

Overseas Citizenship of India (OCI) cardholders would be charged same level of domestic air fares as the resident Indian nationals, Mr Vayalar Ravi, Minister for Overseas Indian Affairs, said.

OCI cardholders would also enjoy parity with resident Indian nationals in matters of inter-country adoption apart from having to pay the same level of entry fees as Indian nationals while entering national parks and wild life sanctuaries, he said.

Since OCI cards can be acquired by persons of Indian origin with foreign citizenship, the cardholders currently pay higher air fares and higher entry fees at national parks, as is payable by foreign nationals.

Facilitation centre

To provide investment advisory services for overseas Indians, the Government will set up an Overseas Indian Facilitation Centre, the Prime Minister, Dr Manmohan Singh, said while speaking at the inaugural session of the Pravasi Bharatiya Divas-2007 here on Sunday.

"A proposal to establish the centre is being proposed and examined. The proposal is being developed on the understanding that an Indian entity independent of the Government could be an effective instrument to engage with the Indian Diaspora on matters related to investments in India," he said. The Prime Minister added that the Government was actively considering the proposal to establish a University for Persons of Indian Origin.

More benefits

Mr Ravi said that India is negotiating agreements with the Netherlands, France, Sweden and Norway that would exempt Indians from making contributions towards social security while working there for short-term periods. India has already signed a similar agreement with Belgium last year, which exempts Indians working on short-term contract (of up to 60 months) from social security contributions.

Other benefits being considered for the overseas Indians include allowing overseas Indian doctors to practise in India. Agreements with Kuwait, Bahrain and other Gulf Cooperation Council countries for labour and employment would be signed in the next few months, he said. Similar agreement with Malaysia is also under negotiation, the Minister added.

The three-day event is being organised by the Ministry of Overseas Indian Affairs in partnership with the Confederation of Indian Industry.

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