South Asian Business news and information

More than 20 million Indians live outside of their homeland. Most of them can be found in North America, Europe, Africa, the Gulf, Southeast Asia and Australasia . Yes, a staggering 20 million. So, it is needless to say that Non Resident Indians (NRI) have turned into the wings of Indian economic revolution. Recently Indian finance minister P Chidambaram had stated that the foreign remittance was now $30 billion a year and was a permanent part of India’s capital flow. Fortunately, India has provided enough attention towards improving banking facilities so that NRIs can easily send the money to their families from any part of the world. 

The uniqueness of Indian manpower export is that the country has become very successful in supplying highly skilled (professionals), semi-skilled and even unskilled workers in various parts of the world. has created a virtual monopoly in the oil rich GCC region and it has paid off in cash ($8 billion).

 The same is true to some extent about the technology sector of India. The market of is the traditional strength of as India was the largest British colony and in turn now Indians have emerged as the largest minority group in UK.   

The huge number of Indians in the developed countries has naturally created a strong demand for Indian products in those markets. Indian films now earn good money from the markets of Middle East, UKand USA. Traditionally in South Asia , when a member of a family can migrate to a developed country and shine, he/she takes his relatives and family members there. This is perhaps the positive side of having a strong family bond.

Indian government is keen to maintain the export of manpower intact because the remittance flow has kept the government out of pressure regarding foreign exchange reserve.