Guwahati: Union Finance Minister Nirmala Sitharaman said that the contribution of non-residential Indians have rise by 12% in 2022. According to her, the amount of remittances that Indians living abroad sent home in the previous year was close to USD 100 billion.
She referred to NRIs as the “true ambassadors of India” while speaking at the Pravasi Bharatiya Divas (PBD) convention in Madhya Pradesh’s Indore. In order to promote India’s brands internationally, she also advised them to use goods and services produced there.
She added that the “European Union (EU) plus one” policy is currently being discussed around the world in response to the “China plus one” approach.
According to Sitharaman, the government is making a concerted effort to position India as an alternative to China and the EU for MNCs looking to establish factories.
The finance minister added that in order to utilise NRIs’ entrepreneurial skills during the “Amrit Kaal” in the ensuing 25 years, the Indian diaspora should collaborate with local small- and large-business owners.
She said, “I recognise that remittances, which come from abroad by Indians who migrated, are about 100 billion US dollars for the year 2022. This is one of the highest remittances which is coming. This has gone up by 12 per cent if compared to 2021.”
“Within a year which was post-pandemic, people thought Indian workers will not go back abroad again, they have not only gone back but more have gone for very useful employment and the remittance numbers have gone up by 12 pc within one year,” Sitharaman added.
The union minister claimed that India is quickly becoming into a hub of knowledge and progress due to the supremacy of Indians in domains such as information technology, digital technology, autos, semiconductor design, medicines and other industries.
She further said, “In the Amrit Kaal of independence, an aspirational India will focus on four “I” which include infrastructure, investment, innovation and inclusion.”