JEDDAH: UAE-based Indian business magnate M.A. Yousaf Ali has said that the Indian diaspora is one of the most economically successful groups anywhere in the world and they have been instrumental in boosting socioeconomic development of their home country.
Speaking at the closing session of the Pravasi Bharatiya Divas in Singapore, Ali said the large presence of Indians in countries all over the world has given added importance to New Delhi’s bilateral relations with those countries. Arab News obtained a copy of his keynote speech. “The Non-Resident Indians (NRIs) and the people of Indian origin have proved extraordinary assets for India as well as for their adopted countries. They have been able to earn a special place for themselves in those countries through their hard work, honesty, commitment and a peaceful lifestyle,” he said.
“As an employer of a group having more than 20,000 employees, out of whom 14,000 are Indians, I can say that the image of the Indians on foreign soil is very high. They are hard working and are equally liked by the people of their host countries,” said Ali, who is managing director of Emke Group.
Referring to the recent financial turmoil in the US and Europe, he said the Indians working in Gulf countries were not affected. He was sure that the future of the Indian economy is very strong and is progressing. “I sincerely believe that the Indian diaspora will become partners in this prosperity.”
Though many countries faced deep economic crisis recently, the financial markets of Singapore, India and West Asia are in a better position. He said Singapore, considered as the business hub of the Far East, is a model to other countries in terms of infrastructure, industry, tourism and re-exports.
“The new economic policies have attracted members of the Indian diaspora to invest in their country,” he said. He was a bit skeptical about bureaucratic delays but commended the government for further simplifying procedures.
He praised Overseas Indian Affairs Minister Vayalar Ravi, who was present at the conference, for signing a memorandum of understanding with the Gulf countries to protect the rights of Indians in the Gulf. “I also thank him for having visited the labor camps in the Gulf countries to interact with Indian workers and know their living conditions.”
He said the Ministry of Overseas Indian Affairs has constituted an Overseas Indian Facilitation Center with the participation of NRIs to promote investments in India. More information about the center’s activities can be obtained from its website www.oifc.in.