India not after NRIs' money, Montek tells diaspora

[Deletedid1]

NEW DELHI: Planning Commission Deputy Chairman Montek Singh Ahluwalia today dispelled the impression that India was after NRI funds saying that more than 95% of investment comes from domestic sources.

"I think we can get rid of the notion that we are connecting with the NRIs (Non-Resident Indians) because we want investment...we are not reaching out to NRIs because we need money," Ahluwalia said at the Pravasi Bhartiya Divas organised by the government in collaboration with industry chamber CII.

"At least 95% of investments in the country is domestic investment," Ahluwalia said adding, "if you feel your money is well spent here, you are welcome... If you think in another country you can do better... as an economist I will tell you that is exactly what you should do."

Sharing the dais with Ahluwalia, minister for overseas indian affairs Valyar Ravi said, "The NRIs share in the foreign direct investment (FDI) in the country is just 1.3 per cent."

According to the latest government data, the cumulative FDI in the country since 1991 stands at USD 179.45 billion.

Although, the NRI investment in the country is not huge, but the remittances from workers are significant. India received USD 46.9 billion as remittances during 2008-09.

Ahluwalia pointed out, "We are reaching out (to NRIs) because we value the long, socio-cultural footprint that we all share.

"So, honestly I would tell you, if you don't feel ready to invest in India, don't be apologetic. It's our job to get investors...Indian or foreigner doesn't matter," he added.

India is planning to double the investment in infrastructure to USD one trillion in the 12th Five Year Plan (2012-17) compared to USD 500 billion in the current Plan.

Read more: India not after NRIs' money, Montek tells diaspora - The Times of India [url=http://timesofindia.indiatimes.com/nri/news/India-not-after-NRIs-money-Montek-tells-diaspora-/articleshow/7247580.cms#ixzz1AeqwLCZg]http://timesofindia.indiatimes.com/nri/news/India-not-after-NRIs-money-Montek-tells-diaspora-/articleshow/7247580.cms#ixzz1AeqwLCZg[/url]

[jimcarrey]

*=: you rock

nee blog kooda bagundi baaaa. good work.. keep moving..

[katharnak]

[quote author=Tom Sawyer link=topic=141986.msg1614089#msg1614089 date=1294684068]
*=: you rock

nee blog kooda bagundi baaaa. good work.. keep moving..
[/quote]

tondarlo ads kuda pedadam ani planning.. keep following  @3$% @3$%

[Deletedid1]

[quote author=katharnak link=topic=141986.msg1614251#msg1614251 date=1294685593]
tondarlo ads kuda pedadam ani planning.. keep following  @3$% @3$%
[/quote]

Ads emi pettanu baa......... aa IDea ledu asalu. I want to keep it clean

[jimcarrey]

[quote author=katharnak link=topic=141986.msg1614251#msg1614251 date=1294685593]
tondarlo ads kuda pedadam ani planning.. keep following  @3$% @3$%
[/quote]

Benz baaa Dabbu manishi kaaduley... sHa_fr1ends

[jimcarrey]

[quote author=katharnak link=topic=141986.msg1614251#msg1614251 date=1294685593]
tondarlo ads kuda pedadam ani planning.. keep following  @3$% @3$%
[/quote]

orinanayno.. Ippdu malla confusion start.... sAng_banghead2 sAng_banghead2

[rajamacherla]

[quote author=BENZBABU link=topic=141986.msg1614051#msg1614051 date=1294683638]
NEW DELHI: Planning Commission Deputy Chairman Montek Singh Ahluwalia today dispelled the impression that India was after NRI funds saying that more than 95% of investment comes from domestic sources.

"I think we can get rid of the notion that we are connecting with the NRIs (Non-Resident Indians) because we want investment...we are not reaching out to NRIs because we need money," Ahluwalia said at the Pravasi Bhartiya Divas organised by the government in collaboration with industry chamber CII.

"At least 95% of investments in the country is domestic investment," Ahluwalia said adding, "if you feel your money is well spent here, you are welcome... If you think in another country you can do better... as an economist I will tell you that is exactly what you should do."

Sharing the dais with Ahluwalia, minister for overseas indian affairs Valyar Ravi said, "The NRIs share in the foreign direct investment (FDI) in the country is just 1.3 per cent."

According to the latest government data, the cumulative FDI in the country since 1991 stands at USD 179.45 billion.

Although, the NRI investment in the country is not huge, but the remittances from workers are significant. India received USD 46.9 billion as remittances during 2008-09.

Ahluwalia pointed out, "We are reaching out (to NRIs) because we value the long, socio-cultural footprint that we all share.

"So, honestly I would tell you, if you don't feel ready to invest in India, don't be apologetic. It's our job to get investors...Indian or foreigner doesn't matter," he added.

India is planning to double the investment in infrastructure to USD one trillion in the 12th Five Year Plan (2012-17) compared to USD 500 billion in the current Plan.

Read more: India not after NRIs' money, Montek tells diaspora - The Times of India [url=http://timesofindia.indiatimes.com/nri/news/India-not-after-NRIs-money-Montek-tells-diaspora-/articleshow/7247580.cms#ixzz1AeqwLCZg]http://timesofindia.indiatimes.com/nri/news/India-not-after-NRIs-money-Montek-tells-diaspora-/articleshow/7247580.cms#ixzz1AeqwLCZg[/url]
[/quote]

sCo_hmmthink  sCo_hmmthink .... Oh is it !!!!!! I was totally in a different frame of mind thinking that NRI's contribute a lot more than the numbers mentioned in the article ... But hard to believe !!!!! Dont Mittal's come under NRI's !!!!!

[mastikaraja]

[quote author=rajamacherla link=topic=141986.msg1614587#msg1614587 date=1294688589]


sCo_hmmthink  sCo_hmmthink .... Oh is it !!!!!! I was totally in a different frame of mind thinking that NRI's contribute a lot more than the numbers mentioned in the article ... But hard to believe !!!!! Dont Mittal's come under NRI's !!!!!
[/quote]
Yes he comes under NRI but , I don't think he invested much in india. antha Ambani tata le kada .