Economic zones for NRIs soon

The Union government has mooted economic zones to provide Non-Resident Indians a conducive atmosphere for investment.

Minister of State for NRI Affairs Jagdish Tytler told newsmen after interaction with NRI industrialists on Saturday that the zones would come up in every state capital. Andhra Pradesh would have zones in Hyderabad and Visakhapatnam.

Tytler disclosed that he would convene a conference of chief ministers and designated ministers to discuss the zones and other issues pertaining to NRIs.

He said the zones would be set up on a priority basis in Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Gujarat, Maharashtra, Rajasthan, Delhi, Uttar Pradesh and Punjab, as they accounted for a large proportion of the Diaspora.

Tytler said the zones, with state-of-the-art infrastructure, would have hotels, motels, higher educational institutions, information technology industry and research centers. He said his ministry was working with the defence ministry to create opportunities for NRI scientists who were keen to work in the country.

He said a package would be worked out to attract NRI investment in tourism and education and facilitate transfer of technology and joint ventures with local Indians.

The minister said the Diaspora was 35 million strong. At least 20 million could invest $ 5,000 to $ 500 million each. "The Telugu-speaking people are the richest Diaspora in the United States," he pointed out.

Tytler said the government was keen to create conditions to make NRIs invest. Iterating the government's commitment to protect the NRIs' interests, he said a ministry was created to act as a nodal point to address issues related to the Diaspora. He promised a policy for NRIs soon.

He assured the NRIs that a single window clearance system would be introduced at the Centre and in states.

Admitting that NRIs faced several problems while making investments, he promised that things would start changing within two months. "Your investments can create job opportunities and help improve the infrastructure. It is sad they are not being tapped and you are being put to a lot of inconvenience," he said.

"We want to make things comfortable for NRIs as this country belongs to them. When China and Israel can create conditions to facilitate their Diaspora to invest back, why can't we do," he asked.