New financial instruments for NRIs
By INDIATIMES NEWS NETWORK |
• Plans to set up an institutional mechanism for attracting ideas and knowledge from NRIs and using these for the benefit of India’s economic development, he said.
• Currently most deposits by overseas Indians are limited to three years. Just as Indian industry has altered its planning horizon to 10-15 years, NRIs too must invest in India for the long term.
• Infrastructure in particular needs $ 320 billion of investments, of which $20-25 billion needs to come from overseas. If NRIs decide to invest in India’s infrastructure, that will give an impetus to our economic growth and sustain it
• Mr Chidambaram called for using knowledge of new agricultural practices to enhance productivity of the sector.
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