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This is an archive article published on January 7, 2007

On the cards, a one-stop-shop for overseas Indian investment

A facilitation centre for investment and a Diaspora Knowledge Network for social development are the two major initiatives to be unveiled during the Pravasi Bharatiya Divas...

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A facilitation centre for investment and a Diaspora Knowledge Network for social development are the two major initiatives to be unveiled during the Pravasi Bharatiya Divas, which Prime Minister Manmohan Singh inaugurated here today.

The remittance from overseas Indians was US$ 23 billion in 2005, and the Ministry of Overseas Indian Affairs sees more investment potential in the coming years. For facilitating the investment, the Ministry proposes to establish a Overseas Indian Facilitation Centre as a “not-for-profit” trust. The PM announced the setting up of the Centre at the inaugural function of the Pravasi Bharatiya Divas today.

According to the theme paper prepared by the Ministry, the Centre will serve as a “one-stop-shop” for the Indian diaspora. The trust will function as a non-profit body with the objective of promoting overseas Indian investment in India and facilitating business-to-business partnership between Indian business and overseas Indian business.

The contours of the Diaspora Knowledge Network which will be decided during the Pravasi Bharatiya Divas. It aims at tapping the Indian diaspora knowledge resources through a network that connects Overseas Indians with India’s development process, says the theme paper. The objective of the network is to devise knowledge management strategies to enable flow of knowledge and expertise from the diaspora back to India to facilitate a collective action. The network will seek to transform ideas into well thought-out projects in India.

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