NRIs contribute in Punjabs economic growth

A large section of non-resident Indians (NRIs), belonging to Punjab, continues to play an important role in the economic development of their homeland.

By Sunil Sharma

Jalandhar, Nov 4 : A large section of non-resident Indians (NRIs), belonging to Punjab, continues to play an important role in the economic development of their homeland.

Over five million, almost one third of the total estimated number of Indians overseas, belong to Punjab.

They have invested huge amount of money in setting up mansions, schools, hospitals and sports complexes in the State.

Upender Dhillon, who migrated from Punjab in 1981 to settle down in Nevada in the United States, has constructed a mansion at an expense of 500,000 dollars near Nakodar town, a few miles from Jalandhar.

The NRI investment in housing and real estate development fetches Foreign Direct Investment (FDI) to the country.

Dhillon cherishes his roots in Punjab.

"For anyone who has spent 18 years of his life at a particular place, it is impossible for him to fail to remember it - be it a country or a village. That is the reason we come again to our village and spend time by meeting old friends. This is our country and we have grown in this land of Punjab, which we'll never forget," said Dhillon.

The Punjabi Diaspora continues to improve the lifestyle in rural areas.

Khatkar Kallan in Nawanshahr District could well be one of the most modern and developed villages in India, with money from NRIs showing all over the place.

Interestingly, NRIs take an additional interest in investing in India's booming economy.

Satish Kapoor, an economist, said: "There are plenty of people who have the money and they want to invest in India. The economy is booming - the 2-3 percent GDP growth rate in the US compared to nearly 10 per cent out here. So anyone investing here, the interest rate is much higher."

"But, it has to be channelised," Kapoor added.

A sizable support by the NRI community helps Punjab head towards prosperity.

Pintu Walia, an NRI from Holland, who visited Punjab to attend a family wedding had a pleasant shopping experience. These little things add wealth to Punjab.

ANI