Monday, January 22, 2007
Remittances from workers overseas amounted to $21bn this fiscal year. Overall foreign institutional investment is growing and funds from overseas Indians are likely to make up a significant portion, JPMorgan says in a report on the Indian diaspora. Real estate is seeing significant overseas Indian investment, both via commercial purchases through funds as well as the buying of second homes.
He was born in Thailand, lives in South Africa and carries a UK passport. But Jag Johal, chief executive of investment firm CBA Capital Partners, has undeniable ties to India.
?I speak Hindi and Punjabi. My parents live in Delhi. I visit at least once a year,? said Mr Johal. ?There are a lot of people like me.?
Spurred by the country?s growing economy and promising investment opportunities, Mr Johal last year launched a pilot India investment fund. Now his links with India, which have stayed with him as he has circled the globe, give him an edge in doing business here.
?We can get under the skin,? said Mr Johal. ?I can blend into a crowd like this.?
The government is highlighting links to India retained by some 20m-25m Indians overseas to emphasise the significant role they can have in developing the country. About 1,000 overseas Indians, including Mr Johal, gathered in New Delhi from far-flung corners of the world including South Africa, Singapore, the Netherlands and Trinidad for an annual government- sponsored conference that ended yesterday.?
… Remittances from workers overseas amounted to $21bn this fiscal year. Overall foreign institutional investment is growing and funds from overseas Indians are likely to make up a significant portion, JPMorgan says in a report on the Indian diaspora. Real estate is seeing significant overseas Indian investment, both via commercial purchases through funds as well as the buying of second homes.?
Continue reading “Vital role for Indians abroad“?
