Have you ever wondered how many Indians are migrated? Well, these are not hundreds, but over 29 million Indians are settled abroad. Every year, 2.5 million Indians take a flight to countries like the USA, UAE, Canada, and Malaysia. And as per current records, Europe is the latest hub for the Indian diaspora, where over 2.8 million Indians are employed or settled. The overseas countries might be developed and wealthy. Low population and lack of skilled workforce in countries like New Zealand, Germany, Italy, and the EU attract Indians to actively migrate to these countries.
Maximum Remittance
Though being only 1% of India’s population, non-residents contribute 3.4% to the total GDP of India. It’s a big contribution from those who don’t even live in the country. For sure, the contribution is possible because of a massive remittance. Since 1991, if seen, remittances have majorly increased and are still increasing. In 2016, it was $62.75 billion, which increased to $68.97 billion in 2017.
The World Bank predicts that India’s remittances increased up to $79 billion in 2018, which is more than any other country. These remittances added nearly 22% to 23% of India’s foreign exchange reserves, which included 2.9% in GDP.
Dynamic Contribution
Besides financial contribution that surpassed $107.5 billion annually, non-residents also outshine through their business ventures, social contributions, and knowledge transfer. They are globally active, hence strengthening the economic condition of India through their innovation and global connections.
Moreover, the Indian diaspora overseas is emerging as a great influencer by innovating things in the domain of lifestyle, businesses, jobs, immigration, investments, and healthcare. Not only on social media, but on global platforms also, Indians as non-residents of India and Persons of Indian Origin (PIO) are emerging as a connection with the global community. This community is also bridging the gap between diverse backgrounds of non-residents. It develops partnerships and ensures the smooth exchange of knowledge and resources with European businesses.
Enhancing India’s Image
Many well-established NRIs, who are very active on social media, host valuable podcasts on diverse topics like business success or secrets, technology, spirituality, and politics. To name a few, Rohit Kumar, an NRI import-export specialist; Reema Mahajan, the founder of UAE’s Indian expat women community; Kaivalya Apte, an Indian tech expert from Berlin, Germany; and Dr. Nupur Kohli, an MP candidate in the Netherlands—these are some of the of the most popular faces from an NRI community.
Excel in Networking
Indians are networking for knowledge sharing and solving problems. They excel in understanding operational journeys, marketing strategies, or optimising supply chain management within the EU market. Many aspiring entrepreneurs are gaining crucial support. They secure funds and build partnerships with accelerators and incubators.
Cultural Expansion
Besides commercials and technologies, the Indian diaspora marks global impressions through its rich culture. Its cultural diversity is commendable. It can be witnessed through its mouthwatering cuisine, classical music, unique dance forms, art, and festivals. Besides, Indian customs are insanely gaining popularity worldwide, which leads to the cultural fusion between India and many other nations. Its biggest credit goes to the Bollywood or Indian film industry. Its famous stars and films are now recognised all over the world.
This country is also known for its unique spices and flavours throughout the world. This culinary influence is introduced by the non-resident diaspora of this nation. The folk dances, which are hosted in traditional festivals and events like Navratri, Holi, and Diwali, are also winning over audiences. Recently, UNESCO included Gujarat’s Garba in the Representative List of Intangible Cultural Heritage (ICH) of Humanity. This is the result of the unprecedented effort of Indians who are keeping their arts, education, and folk arts alive. They encourage cross-cultural interchange globally.
Government Initiatives and Felicitation
The Indian government is leaving no stone unturned to establish connections with overseas Indians. The Overseas Citizenship of India (OCI) Scheme is its finest example, which was introduced in 2006 at the convention of Pravasi Bhartiya Divas in Hyderabad. Under this scheme, all PIOs, or persons of Indian origin, are able to register as OCIs. This change in status leverages them to have visa-free travel in India for lifelong.
The Ministry of External Affairs (MEA) also came up with the Know India Programme for young overseas Indians. This program aimed at nurturing a closer connection between non-resident youths and their ancestral roots. It was a three-week-long program that enhanced their understanding of this ages-old country.
Apart from this, the connectivity and contribution by this diaspora are ongoing in Indian economy. The government of India appreciates their effort and motivates them by awarding the Pravasi Bhartiya Samman Award, which is recognised as the highest Indian award to overseas Indians or organizations/institutions run by the overseas Indian community. The President of India felicitates this award. Also, some OCIs have also conferred Padma awards.
Conclusion
NRIs help the Indian economy grow through their dynamic contribution. The remittance from this diaspora overpowers the population of NRIs. Technology, cultural exchange, media, and many other aspects are recognised that enhance India’s image across the globe. This popularity also attracts foreigners to visit or invest in this country and contributes to the Indian economy.
