Even as global investors were pulling out their money from India, Non-Resident Indians (NRIs) deposited $1 billion in bank deposits (net of withdrawals) during the three month period of October-December 2008. There was a net outflow of $0.9 billion in the same period a year ago, according to the Economic Survey.
Prime Minister Manmohan Singh on Sunday told the ongoing Pravasi Bharatiya Divas at Jaipur that Non Resident Indians should be allowed to vote and participate in the election process. Some NRIs at the event tell A Ganesh Nadar what the PM's statement means to them
Kotak Mahindra Bank on Monday launched its online remittance service - FundstoHome - for non-resident Indians.
Underlining the contribution of non-resident Indians, Union Finance Minister Nirmala Sitharaman on Tuesday said remittances sent to the country by overseas Indians were about $100 billion for the year 2022, an increase of 12 per cent in one year. Speaking at a session during the Pravasi Bharatiya Divas (PBD) convention in Madhya Pradesh's Indore city, she described NRIs as the "real ambassadors of India" and appealed to them to use made in India products and services as far as possible so that the country's individual brand can be promoted across the globe. Sitharaman also said that after the "China plus one" policy, the world is now talking about the "European Union (EU) plus one" policy.
Canada has taken a serious note of NRIs from Canada duping Indian women after marrying them in India.
Entry of top chief executive officers of large MNCs and Non-Resident Indians into the boards of leading domestic companies will help India integrate with the prevalent global corporate culture, says a survey.
The Uttar Pradesh chief minister is on an overseas tour to woo investors.
The helpline, Open 24x7, could be used by NRIs in distress to address their problems to the concerned officials in the ministry.
The State Bank of India, ICICI Bank, HDFC Bank, IndusInd Bank, ABN Amro and others are all set to hardsell themselves to pravasis in the Gulf at the two-day 'NRI Money Show 2003' beginning June 27 in Dubai.
NRIs remittances jumped 19 per cent to $66 billion in the last fiscal compared to the previous financial year because of a sharp decline in the rupee value against dollar, Assocham said in a study.
The Non-Resident Indians (NRIs) living in the US, UK, Canada and Singapore can now avail the benefit of a lesser tax deduction on their Non-Resident fixed deposit with ICICI Bank, a top bank official said in Mumbai. The NRO FD Plus offers the benefit of concessional rate of tax deducted at source (TDS) under the Double Taxation Avoidance Agreement (DTAA) of India with these countries, ICICI Bank General Manager and Head NRI Services Manish Mishra said.
There has been an upsurge in hiring of Non-Resident Indians and expats by companies in the country in the past two years, thanks to improved infrastructure and competitive compensation levels, experts say.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
People of Indian Origin and NRIs should tap the country's huge youth potential to create valuable knowledge links that can catapulate the country into a global innovation hub, Union Minister of Science and Technology Kapil Sibal has said.
Karimnagar, which had been in the news for reelecting the Telangana Rashtra Samithi president, K Chandrasekhara Rao, with a thumping majority, has also entered the radar of Maruti Udyog Limited.
India's rupee woes seem to have worked in favour of non-resident Indians (NRIs). Last week, the Reserve Bank of India increased the cap on foreign currency non-resident (FCNR) and non-resident external (NRE) interest rates.
The programme enables Indians residing overseas to gift a car to anyone residing in India and had found very few takers since its inception.
Non-Resident Indians (NRIs) are one of the key contributors to the growth of the real estate industry and considering the immense potential in India, they are likely to step-up the investment in future.
But due to SEC diktats, funds that are US-based -- like Templeton, Fidelity and HSBC -- do not accept investments from NRIs.
Non-Resident Indians will now be able to book the popular range of Maruti vehicles in the Gulf states and receive their delivery at a place of their choice in Kerala.
A N Shanbhag, the highly respected investment guru, and his son Sandeep Shanbhag, answer your questions on NRI investment.
It's baffling that highly trained professionals who have migrated in search of better incomes and creature comforts, and whose number includes some 200,000 millionaires, should still feel so vehemently about the landscape they have abandoned.
Non-resident Indians with wealth stuck in real estate in India have reason to rejoice.
Intermediaries, TPAs will also benefit, but investments will be under 26% FDI cap
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
A prominent Indian Diaspora body, FIIDS, on Monday urged Finance Minister Nirmala Sitharaman to allow non-resident Indians and overseas citizens of India (OCI) card holders to invest in the Indian stock market. Such a move would boost the Indian economy further by attracting investment from the global Indian community, said the Foundation for India and Indian Diaspora Studies (FIIDS) USA. FIIDS is a US-based institute for US-India policy studies and awareness.
The company has plans to open offices in the US, Singapore and other parts of West Asia such, such as Oman and Qatar in the next couple of years. "The NRI community is totally underserved. We want to tap the vast business potential arising from 2.5 crore (Rs 25 million) NRIs working abroad,'' said Kapil Wadhawan, vice chairman and managing director, DHFL.
There are no great emotional highs or lows in Dono. It is just made up of little moments of normal interactions between young people, observes Deepa Gahlot.
Fans wearing the India jersey, carrying the Indian flag, laughing, joking and anticipating an India win are moving towards the Narendra Modi stadium. There are families, friends, children, adults, teenagers, middle aged and the senior citizen who have all painted the city blue.
There always will be more India products than you can count! Here's a suggested product strategy. . .
SBI Life Insurance is in the process of seeking permission from foreign regulators to sell its products to Non-Resident Indians through the overseas branches of the State Bank of India.
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