Ummid Assistant

Jamia Millia launches courses on China, Afghanistan

IGNOU launches value education programme for teachers

Welcome Guest! You are here: Home Business & Economy

Recession makes NRIs want to move back to India

Saturday January 07, 2012 07:17:41 PM, IANS

Related Article

Cleanup bid for PBD washes colour off Hawa Mahal?

An effort to clean the famous Hawa Mahal ahead of the Pravasi Bharatiya Divas (PBD)-2012 here may have left the 18th century 'Palace of Winds' with colourless patches and also damaged some of its outer surface, archaeological sources  

Jaipur: With recession affecting the world economy, people of Indian origin settled abroad are now evincing interest in returning to India where they feel the growth story lies.

"I come from Canada where the recession has really affected the economy. A few of my friends are planning to make investment in the country," Kamal Singh, a real estate specialist in Canada attending the annual diaspora meet Pravasi Bharatiya Divas which started here Saturday, told IANS.

"India we feel is on a growth path," he added.

He said the recession, as world over, has hit the property market in Canada and the prices should have come down by almost 15 percent on an average.

"We want to come but the government does not support us much. I wanted to provide help to the government on road safety, came out with a project which was completely free, but no one helped me," said Singh, who is in Canada for the last 30 years.

"All they did was to ask me why do I want to do it free. It is just pathetic," he added.

Professor Banwari Lal Meel from South Africa said people really want to come back as economy the world over is in crisis and Indians living abroad are looking towards India.

"I feel India is an exciting market and time is right for entrepreneurs to come back to India to start something on their own here," Meel said.

"I always feel that India has the potential to grow more than 7-8 percent that we are clocking as of now because people here are hardworking," he added.

Meel is a professor in a medical college in South Africa and settled there for over 25 years.

Echoing similar views, Rajeev Jain, a jeweller from the US, said he would prefer coming back to India.

"We were doing well till the last couple of years but now things have changed. Recession has started to affect our business. We heard from our Indian jewellery exporters that they also now want to open shops in India. So, we are also thinking on the same lines," Jain added.

"Recently there was a big jewellery fair here and my friends told me that at least 20 jewellers from Hong Kong wanted to participate in it as they thought India is the place where jewellery can be sold in this phase," he said.

"It certainly gives you an idea of what people overseas also think of the country," he added.

Munish Gupta of Global Organisation for People of Indian Origin, who has business in the US, Britain and Africa, said there is great potential now in the country and they would be looking for business opportunities here.

"Investment is a one-way process whereas business opportunities comprise of partnerships, join ventures and involving local industries and I feel such ventures will be more viable in the present economic scenario in India," he added.

 


 


 

 

 

 

Bookmark and Share

Home | Top of the Page

Comments

Note: By posting your comments here you agree to the terms and conditions of www.ummid.com

Comments powered by DISQUS

i

i

 

 

 

Top Stories

Temporary problems with allies will be overcome: PM

With tensions escalating with ruling UPA's key alliance partner Trinamool Congress, Prime Minister Manmohan Singh Friday hoped that "temporary problems" with allies will  

Congress hopes for 'convergence of views' with Trinamool

Congress calls Trinamool stooge of BJP

 

  Most Read

Swamy submits documents against Chidambaram

Seeking to haul Home Minister P. Chidambaram before a court in the 2G spectrum case, Janata Party president Subramanian Swamy Saturday submitted the certified copies of documents  

Indian military team's China visit is on

The visit of an Indian military delegation to China is on, though scaled down, even as a visa was denied to an Indian Air Force (IAF) officer from Arunachal Pradesh, government sources said Saturday. The number of delegates has been scaled  

Visa row: Indian military team's China visit called off

 

  News Pick

Badal vs Badal vs Badal in Punjab's Lambi seat

The Lambi assembly seat in Punjab has been famous for one thing - its legislator and Chief Minister Parkash Singh Badal. But as the state goes in for the Jan 30  

Amarinder's brother leads list of Punjab Congress rebels

BJP: Hypocrisy of the holier-than-thou

After taking the high moral ground on the corruption issue in parliament and on the public stage with Anna Hazare, the Bharatiya Janata Party (BJP) has fallen from grace on the eve of the Uttar Pradesh elections by inducting into the  

Once again, nursery admissions no child's play for parents

It's that time of the year when thousands of anxious parents stand in serpentine queues outside popular schools in Delhi, just to pick up  

 

Picture of the Day

Braving chilling cold, more than 10,000 people thronged the venue of the rally called by the All India Muslim Personal Law Board (AIMPLB) in Malegaon on January 04, 2012. The AIMPLB is carrying a nationwide campaign demanding amendments in the Right to Education Act and the proposed Direct Taxes Code Bill, and for a stronger Waqf Act.

(Photo: ummid.com)

 

 
 
 
 
 
 
 

RSS  |  Contact us

 

| Quick links

News

 

Subscribe to

Ummid Assistant

 

National

Science & Technology

RSS

Scholarships

About us

International

Health

Twitter

Government Schemes

Feedback

Regional

History

Facebook

Education

Register

Politics

Opinion

Newsletter

Contact us

Business

Career

     

Education

     

 

 

Ummid.com: Disclaimer | Terms of Use | Advertise with us | Link Exchange

Ummid.com is part of the Awaz Multimedia & Publications providing World News, News Analysis and Feature Articles on Education, Health. Politics, Technology, Sports, Entertainment, Industry etc. The articles or the views displayed on this website are for public information and in no way describe the editorial views. The users are entitled to use this site subject to the terms and conditions mentioned.

2010 Awaz Multimedia & Publications. All rights reserved.