Thaindian News

New Delhi, Jan 9 (IANS) Thanking the 25 million Indian diaspora for contributing to their country of origin, President Pratibha Patil Saturday praised the efforts of Indian workers in the Gulf who account for 40 percent of inward remittances worth $50 billion.
Addressing the concluding session of the Pravasi Bharatiya Divas, the country’s annual conclave to connect with its diaspora, Patil said $20 billion in inward remittances to India annually come from contractual skilled and semi-skilled workers in the Gulf.

“They often face harsh living and working conditions and are separated from their families for long periods of time. I take this opportunity to salute Indian workers in the Gulf.”

Some 1,500 delegates from 50-plus countries took part in the convention.

The president said India managed to ward off the adverse impact of the global slowdown much better than many other countries and managed to grow at 6.7 percent last fiscal, and with a bright prospect of registering over 7 percent expansion this year.

“In the post-crisis world, India is increasingly perceived as one of the principal engines of growth, a safe destination for investment and an emerging educational and technological hub,” she said.

“There is immense capacity that you have both in talent and in financial terms, that can be invested in India. We hope to see your greater participation in the coming years in the development of India.”

The president said India was looking at an investment potential of $500 billion in sprucing up physical infrastructure alone over the next five years. This apart, the country is also looking at expanding social infrastructure in healthcare and education.

“The expenditure on healthcare infrastructure in the country is projected to grow at 5.8 percent annually. This presents an unprecedented opportunity including for our overseas community to participate and benefit in India’s unfolding growth story.”