NRIs should partner in Indian development: Union Finance Minister Nirma

Washington: Union Foreign Minister Nirmala Sitharaman said, ‘India is celebrating the Amrit Mahotsav of independence. It has been 75 years since India became independent and now the period till the 100th year will be the golden period. The Non-Resident Indians (NRI) should partner in the development with their contributions’.

Finance Minister Nirmala Sitharaman, who is on a visit to the United States for the meetings of the International Monetary Fund and the World Bank, addressed a rally of the Indian community at the Silicon Valley in San Francisco. While speaking on this occasion, Sitharaman praised the Indians in the United States, saying that the Indian community in the United States has contributed significantly to Indian development. Sitharaman said that the Indians in the United States had made rich contributions mainly in the technology and research sectors.

India is celebrating its Amrit Mahotsav of independence. It has been 75 years since India became independent and now the period till the 100th year becomes the golden period. The Indian government has started a constructive program for the country’s progress. Sitharaman hoped that the NRIs would also contribute to the development process and become partners.

Meanwhile, over the last few years, it has become clear that the Indians residing abroad have made major contributions to the growth of the Indian economy. The total inward remittances in the year 2021 were $87 billion. The US-based Indian community had a share of 20% in this. An increase of 3.8% is expected in the year 2022. India is also deriving indirect benefits from the performance of Indians in the technology and research sectors in other countries. Against this background, the appeal made by the Union Finance Minister to the Indian diaspora becomes significant.

It is revealed that India has become a hotspot for foreign investors and there has been a significant increase in the foreign investment inflow since the Coronavirus outbreak. Indian credibility is on the rise on this front. Analysts in western countries claim that India will replace China as the world’s manufacturing hub. In this scenario, confidence is being expressed that the NRIs working in various sectors in the developed countries, including the United States, can contribute in a big way to the Indian growth. The statement of Sitharaman becomes significant against this background.