Indian Diaspora
Introduction:
- The pride of a nation is represented by its diasporas, who serve as its ambassadors overseas. They help to raise the country’s value internationally by sharing their inspiring success stories. It is now commonly accepted that the diaspora can support India’s national interests, advance its soft power, and strengthen its economy. One of the Indian diaspora’s most important economic contributions has been remittances. According to World Bank research, over 87 billion dollars in remittances were sent to India in 2021, with more than 20 percent of this money coming from the United States. to acknowledge the foreign Indian community’s support for India’s development. It is customary to celebrate Pravasi Bharatiya Divas on January 9.
Indian Diaspora abroad:
- With 17 million PIOs and 13 million NRIs, there are currently 31.2 million Indians residing abroad, spread out across 146 different countries.
- In the United States, Saudi Arabia, the United Arab Emirates, Malaysia, Myanmar, the United Kingdom, Sri Lanka, South Africa, and Canada, there are at least one million Indians who reside overseas.
- With a diaspora of 17.5 million individuals living all over the world, India continues to be the most popular place of origin for international migrants, according to the Global Migration Report 2020. With 78.6 billion dollars, or 3.4 percent of India’s GDP, in remittances from Indians residing abroad, India also received the biggest amount.
The opportunities that the Indian diaspora offers India are as follows:
- By giving access to markets, resources, and knowledge, they act as a vital “bridge” for the development of the country of origin with the rest of the world.
- The diaspora plays a significant role in India’s “soft diplomacy” or “diaspora diplomacy.” For instance, the Indo-US Nuclear Deal was a success thanks in large part to the Indian Diaspora.
- They have also contributed to the growth and development of the country in which they currently reside. For instance, Silicon Valley is a representation of Indian success.
- Science and technology have benefited greatly from the contributions of the Indian Diaspora.
- global business endeavors They make a major contribution to commerce and investment in India.
- source of substantial remittance inflows that have helped to balance the current account. It also encourages social development and the abolition of poverty. According to the World Bank, the Indian Diaspora currently leads the world in remittance revenues.
- dissemination of information and exposure They helped India as a whole by promoting Indian traditions and culture overseas. Examples include Ayurveda, yoga, and Indian food.
- NRI financing of businesses or academic institutions also broadens the economy’s sectors. This NRIs are reportedly a sizable source of foreign direct investment, market expansion (outsourcing), and knowledge transfer, all of which contribute to the daily rise in the assets of the financial system.
How to Proceed:
- If Diaspora individuals are to feel welcomed in India, the immigration and customs clearance procedures must be made simpler and characterized by courteous treatment.
- aid in the inflow of foreign currency.
- Address the problems that our blue-collar workers abroad are facing:
- With the host nations, a standard labor export agreement is negotiated.
- Our Missions is to monitor and control our personnel overseas.
- obligatory insurance plans that safeguard our international employees from hazards.
Including diplomacy:
- PIOs usually visit their home nation or visit relatives. The second generation of PIOs should pay more attention to tourism promotion.
- the welfare of Indian women who are wed to PIOs or NRIs.
Economic expansion:
- Senior manufacturing industry professionals from the diaspora can help promote India as a prominent outsourcing site.
- The government should also consider designating special economic zones that would solely be used for NRI and PIO projects.
- The government can consider issuing special infrastructure bonds designed after Israel Bonds in order to promote NRI/PIO investments.
- Utilizing the financial and intellectual resources of its sizable Diaspora is a challenge for India.
Conclusion:
- The Indian government has lately established a strong foundation by making diplomacy people-centric through its constant interaction with the Indian diaspora. The Indian diaspora acts as a bridge between their nation and India so that both may progress together for the good of their respective populations. Realizing their potential is essential because the diaspora can provide the required strategic impetus.
