Delhi Diary: Non-Resident Indians Play A Big Role In India's Economy

By Shakir-Husain Shakir Husain, Bernama’s correspondent in New Delhi shares his take from the Indian sub-continent. NEW DELHI, Feb 13 (Bernama) -- A report presented in the assembly of India's southern state Kerala recently had an important detail pertaining to the huge role India's migrant workers play in the country's economy. Non-resident Indians (NRIs) from Kerala have amassed 1.52 trillion rupees (US$23.7 billion) in bank deposits. Kerala accounts for a large number of migrant workers from India and most of them are employed in the Arabian Gulf region. There seems to be a regional pattern in the distribution of NRIs across the world. Many of those who look towards the US are from the Telugu regions of Andhra Pradesh and Telangana in south India. In particular, the US is a favourite destination for technology professionals from these states. Malaysia and Singapore are popular among NRIs from Chennai and Tamil Nadu, while Canada is particularly liked by those migrating from Punjab. A great number of Gujarat NRIs can be found in Britain as well as in the US and the United Arab Emirates (UAE). The NRIs must not be confused with the foreign citizens of Indian origin who can be found across the world from Mauritius to Malaysia to Trinidad and Tobago. NRIs are strictly Indian citizens who are residents abroad because of employment, business, education or family reasons. Some probably want to settle down in their host countries while many would return. It's because of their contributions that India is the world's number one recipient of global remittances. According to the World Bank's estimates, India would receive $62.7 billion in remittances in 2017, ahead of China's $61 billion. The Arab Gulf states, home to nine million Indians, are crucial to India's NRI fund inflows. They send home $35 billion a year, providing comfort to millions of families and to the nation's balance of payment situation. India owes a huge debt of gratitude to them in building its record foreign exchange reserves of $421 billion. NRIs are also a key segment of travellers to be targeted by holiday destinations. Many NRIs, however, also feel that their contributions are not appreciated at home. In particular, they want voting rights abroad in Indian elections so that they can influence decision-making on the issues that concern the migrant community. There have been demands for some sort of a national insurance coverage or special fund to help those who are forced to return due to job losses or those who want to settle back in India. Government leaders from India have increased their engagement with the NRI community in recent years. Prime Minister Narendra Modi during his foreign visits has addressed many Indian diaspora gatherings in Australia, the US, Britain, Singapore, Oman and the UAE. After Rahul Gandhi took over as president of the Congress party, the first country he chose to visit was Bahrain, where he interacted with NRI businessmen and the Indian community, the largest expatriate group in the small Arab kingdom. Over the decades, some NRIs have established themselves as successful businessmen overseas and are now investing funds back home in sectors ranging from real estate to retail. -- BERNAMA