Many of my NRI friends agree that America's Immigration & Naturalisation Service, because of its immigration criteria, has created a highly selective and narrow population of NRIs in terms of capability .
NRI demand would help offset the liquidity problem, which is presently affecting realty sales.
Non-basmati white rice accounts for nearly 25-30 per cent of total rice exported from the country.
rediffGURU T S Khurana answers readers' personal income tax queries.
Taxpayers are filing their income tax returns (ITRs) early for the Assessment Year 2024-25 (FY25). By April 29, over 592,000 returns were filed, with over 538,000 verified and 367,000 processed. Early filing allows revisions without penalties.
For the first time, Amul fresh milk will be available outside India, with the Gujarat Cooperative Milk Marketing Federation (GCMMF) launching four variants of milk in the US market within a week, to cater to Indian diaspora and Asian population. "We have been exporting dairy products for many decades. This is the first time we are launching fresh milk outside India," GCMMF MD Jayen Mehta told PTI. He said "the GCMMF has tied up with 108-year old cooperative organisation Michigan Milk Producers Association (MMPA) to launch fresh milk in the US market."
Indians living abroad are equally eligible for housing loans from banks here but with some riders.
'I would think that India faces less damage from opinions voiced overseas compared to the damage it suffers if the right to free speech of its citizens is curtailed in the name of image management,' asserts Shyam G Menon.
An international convention of people of Indian-origin in the US has demanded voting rights for Indian citizens living outside India and Rajya Sabha seats for Non-Resident Indians.
Rejecting news reports, a Commission spokesperson said no such facility has been extended.
Chit funds can accept subscription from NRIs on non-repatriation basis
The draft law also allows courts to send summonses and warrants to the accused through a specially designated website to be hosted by the Ministry of External Affairs.
In the volatile international situation where 'nativism' is on the rise and immigrant communities are being targeted, the Leader of the Opposition's statement is like adding fuel to fire. If the Indian diaspora numbering 4 crores is threatened it will constitute a grave threat to national security, warns Colonel Anil A Athale (retd).
With the rise of ultra-luxury housing in India comes ultra-customised marketing. Developers selling high-end homes, priced above Rs 20 crore, are moving away from traditional marketing for these homes to newer methods, such as painstaking profiling of customers before showing them the property, augmented reality for visualisation of interior decor, virtual tours, and closed-door international shows. There is also marketing through online ads, social media influencers, and exclusive memberships.
NRIs must be given business priority in India.
A N Shanbhag and Sandeep Shanbhag answer the queries of the readers on investment issues
Despite the slowdown, property investments can give them good returns over the long term
With the government clearing the decks for direct listing at the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC), issuers will wait for the ecosystem to develop further before firming up their listing plans. In the meantime, most companies may continue to prefer listing in the onshore market, even as the new avenue provides key benefits such as tax waivers and reduced foreign exchange risk. Sources said that a few key things need to be ironed out further.
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Nearly 40 developers participating in HDFC Indian Homes Fair in London would showcase thousands of property.
NRIs could run into difficulties if they possess discontinued currency notes amounting to a high value.
NRIs can lock into NRE/NRO fixed deposits, buy real estate and invest in long-term equity investments.
Targetting Non Resident Indians in the United States, Bharti Airtel on Thursday launched its 'CallHome' service at the price of 7.9 cents per minute.
The Indian diaspora remain bullish despite single-digit equity market returns since May 2014, says Pavan Burugula.
Shiv Sena chief Bal Thackeray has criticised Prime Minister Manmohan Singh's statement that the government was working towards granting voting rights to NRIs by the time of the next general elections.
HDFC Bank on Tuesday launched an online remittance facility for NRIs in the US, UK and Singapore.
Even an investor with an appetite for risk can consider investing in fixed deposits to hold a complete and well-diversified portfolio across asset classes.
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As returns decline, with extent and time horizon uncertain, some of these investors look to shift to safer zones
Interest on NRE accounts is tax-free, but the I-T department creates hurdles to tax these accounts.
The new service, Pravasi, will offer banking solutions for NRIs in India and Oman, with services ranging from basic remittance service, investments in international and Indian funds, wealth management solutions to demat accounts in India and Oman for trading in shares and retirement solutions, the bank said.
NRIs hailing from the five poll-bound states will be able to vote in the elections for the first time but they will have to be physically present in their place of origin to exercise their franchise.
Replying to a debate on the Representation of People (Amendment) Bill, 2010 to allow NRIs to exercise their franchise in Indian elections, Law Minister M Veerappa Moily said the government would hold a national consultation on comprehensive electoral reforms in two to three months.The Rajya Sabha had passed the bill on Monday.
The flow of money into Non-Resident Indians (NRIs) deposits witnessed a substantial increase, touching $2.14 billion in the first quarter of this financial year (Q1FY24), compared with $349 million in the same period in FY23. The outstanding NRI deposits rose by $2.5 billion, standing at $141.28 billion at the end of June 2023, up from $138.77 billion in May 2023, according to Reserve Bank of India (RBI) data. RBI released the updated data in the bulletin after almost three months.
In a pre-Budget memorandum to finance minister Pranab Mukherjee, the IndusInd International Federation said selective benefits may be offered to NRIs enabling them to make India the hub for their global activities.
However, finance minister Pranab Mukerjee did not commit himself to this proposal of floating infrastructure bonds, as this requires detailed examination and Parliamentary nod.
In a significant move, the 13th Pravasi Bharatiya Divas, to be held in Gujarat from January 7 to 9, might see the overseas citizen of India and person of Indian origin cards getting clubbed, External Affairs and Overseas Indian Affairs Minister Sushma Swaraj said on Monday.
If there is no possibility of NRIs coming to India to vote, why should they get enrolled, asks Chief Election Commissioner V S Sampath.
RBI has allowed NRIs to invest in chit fund companies on a non-repatriation basis, subject to certain conditions
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