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Govt draws plan to boost NRI investments

The plan involves setting up of a diaspora knowledge network, an investment unit and a research foundation for NRIs.

business Updated: Dec 15, 2005 17:31 IST

India has chalked out a plan which involves setting up of a diaspora knowledge network, an investment unit and a research foundation to encourage NRIs to invest and participate in the economic development of the country.

Under the plan, the Government would set up an Indian Diaspora Knowledge Network to share knowledge of Indians living abroad for mutual benefit, an Overseas Indian Investment Unit to encourage NRIs investment and Overseas Indian Research Foundation to share the scientific experience of people of Indian origin living abroad, G Gurucharan, joint secretary in the Ministry of Overseas Indian Affairs said.

The Government is committed to harness diaspora knowledge resources, promote individual initiatives and catalyse community action as partners in progress of the country, he told a meeting organised by the Indian Consulate here yesterday.

Gurucharan invited NRIs to participate in large numbers at the forthcoming fourth Pravasi Bharatiya Divas being held in Hyderabad from January 7-9 next year.

The conference would provide a global forum for the people of Indian origin to establish networks for mutually beneficial engagement with India.

He said that knowledge and technology alliance between NRIs, the Government and other institutions would generate intellectual property and would be for mutual benefit.

Satish Mehta, Consul General of India, said Indian Consulate in Toronto would open registration for Overseas Citizens of India here from December 19, and it would go a long way in helping people of Indian origin to have hassle free visit to their homeland.

First Published: Dec 15, 2005 17:26 IST