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Raminder Singh Wadhwa (S 41)


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COMPOSITION OF DIASPORA

Migrants make up 3% of the worlds population

Top 3 countries with large migrant populations are in Asia:

China, India and the Philippines

Bangladesh: Between 7 & 8 Million China: 144 Million

India: 20 Million +

Indonesia: 3 Million +

Pakistan: 3.9 Million Philippines: 8.2 Million

Vietnam: 3.2 Million


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Transfer Payments - Remittances from overseas Indians

Lets see where we stood a year ago

23 Billion USD a year in remittances from 30 million Non Resident Indians

disbursed in 130+ countries.

The Overseas Indians worldwide produce an economic output of

about $400 billion approx. 30% of Indias GDP

Indians make up roughly 20 percent of the "International Medical Graduates" -

or foreign-trained doctors - operating in the U.S.

26 percent of all immigrant-founded companies in the past 10 years werefounded by Indian immigrants.


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REMITTANCES

World Bank Estimates in 2005

US$232 Billion with 72% going back to developing

countries

Unrecorded remittance flows add about 50% more

Remittances are twice the size of ODA

Highest receiving countries

India ($21.7 B)

China ($21.2B) Mexico ($18.9B)

Philippines ($13B)

Top three remittance sources: US, Saudi Arabia and

Switzerland


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Is/Was this phenomenon contributing to

Indias Current Economic Growth of 9%?

YES!


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DIASPORA PHILANTHROPY:

MECHANISMS

Families / personal ties

Religious institutions

Intermediaries Give2Asia, United Way

Diaspora Foundations American India

Foundation, Alumni Associations (IIT Heritage Fund)

Hometown Associations


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AMERICAN INDIA FOUNDATION:

DIGITAL EQUALIZER PROJECT


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India faces meltdown woes The GRIM Picture

*Suicides soar in a country in which bankruptcymeans more than just loss of face* - Times on aLos Angeles resident and product of the IIT, ruined

financially, shot dead his wife, three children and

mother-in-law before taking his own life.

The Financial Times - Ban Ki-moon, the UnitedNations secretary-general, stated - he fears that

people in emerging markets like India would be hurtmost by the devastating financial turbulence

unleashed in the US and Europe.

"The least developed countries, the poorest of the' - -


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India faces meltdown woes The GRIM Picture

Last month, Wipro Technologies, has askedhundreds of its US employees to go on no-pay leave

after it lost two of the biggest customers, Lehman

Brothers and Merrill Lynch.

Chinese exports to the US which were 22.5 percent

of the countrys total basket have been hard hit,

affecting dependent economies such as Indias, which

supplies cotton bales to Chinese manufacturing units.This has only worsened the despair of the Indian cash

crop farmers and aggravating the possibility of

already-rising farmer suicides. It is believed that as

many as 1,000 farmers commit suicide every month.


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At the end of this section we see

1. Indian economy growing at a rate of 8.5% is today one of

the most attractive destinations for investment, business.

2. Vast opportunities exist for business, investment in various

sectors especially in the development of infrastructure sector.

3. India is being used as manufacturing, R & D hub by many

leading companies of the world by making use of vast skilled

labour, low cost advantages.

4. Regulations in India generally do provide incentive to do

business, investment in India.


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RECOMMENDATIONS

Creation of an enabling environment

Revise existing regulations and laws

Strengthen diaspora networks overseas and encourage

investment in local development

Create partnerships between diaspora communities and

communities of origin

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