INVESTMENT POTENTIAL OF NRIs
It is estimated that
currently about 25 million Indians living abroad would fall into the definition
of NRI. Of these about 20 million have taken up foreign nationality (FNIOs) and
the remaining 5 million are still Indian passport holders. The pattern of
earning and consumption of NRIs is such that it leaves annually a fairly large
amount of investable resources. Conservative estimates place such resources at
Rs.45,000 crores or about US $15 billion annually and the wealth at $200
billion or Rs.7,20,000 crores. Assuming that India succeeds in persuading NRIs
to invest 10 % of their total saving into investments in India, the estimate of
possible inflow is about US$ 1.5 billion per year.
Avenues for Investment by NRIS
NRIs
can have three different types of bank accounts, buy securities in the primary
and
secondary markets, and
do business on non-reparable basis as well as repara have also made in the past
large investments in specific bonds, i.e., the India Development Bond in 1991,
the Resurgent India Bond in 1998 and India Millennium Deposits in 2000.
Foreign Direct Investment under New
Industrial Policy (1991) Repatriable Basis:
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