Shri. Vayalar Ravi, Minister of Overseas Indian Affairs has said that the government will soon establish a ‘Diaspora Knowledge Network’ – an electronic platform to enable the Indian Diaspora to deploy its knowledge and skills and transform ideas into individual initiatives and community action in India. He was speaking at the Harvard University on ‘The Indian Diaspora: It’s contribution to India’s Economic Development’ on the occasion of “Mahatma Gandhi Jayanti’. He said that we live in turbulent times, in a world that is profoundly divided between the haves and the have-nots. A world, witness to considerable violence and acts of terror. These are times when the world must be inspired, once again, by the principles of Truth and Non-violence that the great apostle of peace – Mahatma Gandhi lived and died by.
Shri Ravi announced that Government will soon establish a ‘Global Indian Foundation’, to provide the Overseas Indian Community a credible window to lead Diaspora Philanthropy into deserving causes such as education, health and rural development in India. He further said that Overseas Indians are being engaged through the Overseas Citizenship of India scheme. This scheme is exactly similar to the Green Card of USA. And the newly established Overseas Indian Facilitation Centre, a not for profit trust, promoted by my Ministry can be the Diaspora’s window to invest in and benefit from India. It will serve as a ‘one stop shop’, he added.
He informed that that the size, the spread and the growing influence of overseas Indians is truly impressive. Estimated at about 30 million in 130 countries, the Indian Diaspora is a significant economic, social and cultural force in the world today. They are a representation of India: its peoples, regions, religions, languages, values, cultures and histories. The Overseas Indians worldwide who are our brand ambassadors produce an economic output of about $ 400 billion. The Indian Diaspora is estimated to generate an annual income equal to about 30 percent of India’s Gross Domestic Product. He also informed that India is already the highest recipient of remittances from overseas Indians at over $ 23 billion last year. What is less known though is the fact that nearly half of these remittances – about $ 12 billion annually - comes from just 5 million overseas Indians in the Gulf.
The Minister said that India is a country of young people with 54 percent of its population in the age group below 25 years. By 2020, India will become the world’s youngest nation with the largest workforce of 820 million in the working age group (18 to 59) as compared to 400 million today. This will be a time when it will have the potential to dramatically enhance labor supply and productivity. The Overseas Indians comprise one of the largest, most diverse, best educated communities wherever they reside has added to India’s brand as a ‘knowledge economy’. The Indian Diaspora can contribute in substantial measure. The Overseas Indian community represents a reservoir of knowledge, skills, resources and enterprise. He announced that to draw upon and use this ‘Knowledge Bank’, I propose to soon establish an electronic platform that will enable the Diaspora to work on projects in India without having to relocate. He said that the Indian Diaspora has an important role to play as overseas resource groups, facilitators of trade and investments with the home country, and transmitters of knowledge and skills. I foresee a great role for the Indian Diaspora in forging partnerships between India and the rest of the world through social entrepreneurships that will enrich social capital.
PKM
(Release ID :31627)