India wants to milk the expatriate NRIs more with new financial instruments - be watchful!
Preeti Singhani
Jan. 9, 2007

Finance Minsiter of India promises new financial instruments for NRIs - but wxpatriate Indian know they are being milked like a cow by India!

Expressing confidence that the Indian economy would clock close to 9 per cent growth this fiscal, government on Tuesday promised NRIs of coming out with financial instruments for attracting their remittances for longer duration.

Pointing out that NRI remittances to India, on an average are of three-year duration, Finance Minister P Chidambaram asked them to expand their horizon to bring longer term money for at least 10 years, as well as their expertise in various fields into the country.

Addressing a Pravasi Bharatiya Divas seminar here, Chidambaram promised NRIs that the government would bring new financial instruments and institutions to help them bring longer term money and their knowledge base into India.

India wants to milk the expatriate NRIs more with new financial instruments - be watchful!
Preeti Singhani
Finance Minsiter of India promises new financial instruments for NRIs - but wxpatriate Indian know they are being milked like a cow by India!
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