IMPORTANCE OF OVERSEAS INDIAN CITIZENS (OCI)
- May 20, 2021
- Posted by: Admin
- Category: others
|IMPORTANCE OF OVERSEAS INDIAN CITIZENS (OCI)|
- One of the greatest benefits of engaging with the 30-million-strong Indian diaspora has been in terms of remittances.
- Remittances close to 69 billion dollar make an invaluable contribution by aiding in socio-economic development, poverty reduction and changes in consumption behaviour in rural areas.
- NRIs are more prone to donating to domestic charities because of the strong cultural and emotional feelings that they nurse.
- Diaspora acts as ‘agents of change’facilitating and enhancing investment, accelerating industrial development, and boosting international trade and tourism.
- Another tangible long-term advantage in nurturing ties with an active Diaspora is an accelerated technological sector.
- A less tangible but important advantage in having a large emigrant group is “diaspora diplomacy”and they act as “bridge-builders” between their home and adopted countries.
- Indo-US Civil Nuclear Deal is a case in point, as ethnic Indians in United States successfully lobbied for clinching of the N-deal.
- The migration of less-skilled labour (especially to West Asia) has also helped in bringing down disguised unemployment in India.
- Migration of skilled labours to foreign countries and their eventual success bolstered the nation’s image.
- Diaspora’s motives to invest in India are in contrast to non-diaspora FDI. Their investments are long lasting as many of them wish to establish a long-term base in India.