• The Prime Minister inaugurated the 16th Pravasi Bhartiya Divas convention and mentioned that the lessons learnt by India during the pandemic have become an inspiration for the Atmanirbhar Bharat initiative, and this movement for self-reliance is meant to help others as “Made in India” products and solutions will benefit the world.

Role of Indian Diaspora

• The pandemic has created a need for becoming self reliant in terms of Health, Habitat and hunger and Indian diaspora plays a very critical role in crossing the threshold and deciding the future of the economy.
• Indian diaspora is around 3.2 crore and India is top receiver of remittances which contributes to around 3% of GDP and results in co-creation and co-development.
• It can be an aiding vehicle for Industrial revolution 4.0 and can act as a living bridge in terms of Technology and Finance.
• India is being a business and investor friendly country in terms of allowing Overseas Citizen of India (OCI) and Person of Indian Origin (PIO) card holders for investing in various sectors and as result India is being leveraged as an offshore facility for investments.
• A cluster based investment approach where Indian diaspora can play a permanent role in various sectors like green and brown field manufacturing, financial sector, industrial sector, technology and especially in the Health sector need to be encouraged.
• Thus, there is a need for more efforts in terms of negotiations and India needs to be a facilitator for encouraging the Indian diaspora and better global integration.

Reference:

1. https://www.youtube.com/watch?v=ppM95Ne29sQ&list=PLVOgwA_DiGzoqQsGjmamTu6f453RWpm_I&index=1