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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.
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