Diaspora raring to invest in homeland

The NRIs from Punjab are eager to invest in the state in a big way, provided the Central government makes laws more investor-friendly. A section of the NRIs now living in the US and the UK agreed that situation in India with regard to setting up business has improved, but more transparency and a continuity in the policy was needed. “By the time we finalise business with one government, a new government takes over, which invariably scraps the earlier project or does not show interest. The NRIs then are left in a lurch in the absence of continuity of policies and programmes. Change of government should not change some basic investor-friendly policies. No wonder many NRIs investing in this country,” said an NRI. His views were echoed by many others. Talking to The Indian Express on the sidelines of the global investors’ conference for infrastructure development in North India at the 4th Parvasi Punjab Divas-2007 organised here today, Bobby Rekhi of Principal Cornerstone Venture Partners, California, said capital funding was lacking in North India. “In Bangalore and Hyderabad, for example, the investors do not feel this problem. But in Punjab, they are faced with capital funding. Red-tapism has decreased over the years, but it exists,” Rekhi said. Rekhi said the Punjab government should encourage NRI investors by offering to put money in projects which could be equally matched by the investors. Ali Busheri from the US said more NRIs would invest in Punjab if there was more capital venture fund available in the state. Mohinder Singh Jaspal from the UK said the Punjab government should come out with more sops and subsidies to encourage investors to come to the region. “The government should take better care of the NRIs to make them invest more here,” he added. //Source: http://cities.expressindia.com