RBI statistics have shown that on an average, 40% of India’s forex reserves 
come from NRIs. Parliamentary Standing Committee’s 2006 report on external affairs revealed that Rs. 550 billion (half of the total remittances) comes from Indian workers stationed in UAE, Saudi Arabia, Kuwait among others, earned and repatriated mainly by petty workers.
The Reserve Bank of India might be surprised, but the fact is that beyond investment and remittances, an Indian with any background is still, uhh, an Indian... Discrimination then on the basis of their resident country and their pocket depth becomes unethical and even illogical. Just a few decades back, such blatant hypocrisy would have been labelled apartheid, would have evoked global consternation and major media ridicule. And now? Nobody even blinks! That’s India!
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2006
come from NRIs. Parliamentary Standing Committee’s 2006 report on external affairs revealed that Rs. 550 billion (half of the total remittances) comes from Indian workers stationed in UAE, Saudi Arabia, Kuwait among others, earned and repatriated mainly by petty workers.The Reserve Bank of India might be surprised, but the fact is that beyond investment and remittances, an Indian with any background is still, uhh, an Indian... Discrimination then on the basis of their resident country and their pocket depth becomes unethical and even illogical. Just a few decades back, such blatant hypocrisy would have been labelled apartheid, would have evoked global consternation and major media ridicule. And now? Nobody even blinks! That’s India!
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2006
An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative
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