Union Finance Minister Nirmala Sitharaman highlighted the contribution of non-resident Indians on Tuesday, stating that remittances given to the nation by non resident Indians were projected to be about USD 100 billion for the year 2022, an increase of 12% in a single year.
She called NRIs the ‘true ambassadors of India’ at a session of the Pravasi Bharatiya Divas (PBD) convention in the Madhya Pradesh city of Indore, and she urged them to use made-in-India goods and services as much as possible to help promote the nation’s unique brand internationally.
Sitharaman added that following the ‘China plus one’ policy, the ‘European Union (EU) plus one’ policy is now being discussed around the globe.
She claimed that in contrast to China and the EU, the government is making a strong case for India as a nation where global corporations may locate their factories.
According to Sitharaman, the Indian diaspora should collaborate with local small- and large-business owners so that NRIs’ entrepreneurial abilities can be utilised during the course of the next 25 years, or the ‘Amrit Kaal,’ of freedom.
‘I am aware that remittances sent home by emigrant Indians will total about 100 billion US dollars in 2022. One of the greatest remittances coming in is this one’ stated the finance minister.
According to her, this has increased by 12% since 2021.
‘Within a year, which was post-pandemic, people believed Indian workers would not travel overseas again. They have not only returned, but more have gone for extremely valuable employment, and the number of remittances has increased by 12 percent within a year,’ she said.
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