A French scholar Romaine Rolland rightly said “There is one place on the face of earth where all the dreams of living men have found a home from the very earliest days when man began the dream of existence, it is India.”
A considerable population of the Indians exists in Gulf regions, Mauritius, East Africa, Australia, and Canada. About 1.1 million exist in the Caribbean and South American countries. Moreover 1.7 million live in the United States, 3 million in gulf areas and in UK they form the largest cultural community.
Since independence, the Indians settled abroad have been returning to discover new opportunities for interacting with their homeland. These Indians who have settled in the far off lands miss their own country and make every effort to connect with their motherland in some way or the other either by purchasing property or networking with their relatives etc.
Respecting the sentiments of such nationals who want to participate in the development of their country, the Government of India launched a unique scheme on 31st March, 1999 so that they could obtain a dual citizenship. It was revised and renamed as the PIO card scheme in 2002 and came into force on 15th September 2002. This allows visa free entry to the people of Indian origin and gives them the right to enjoy all the privileges enjoyed by (NRIs) including the purchase of non-agricultural land.
Indian passport holders, the spouses of Indian citizens or PIO card Holders, people whose parents/grandparents/great grandparents were born or permanently residing in India and other territories that became part of India thereafter are eligible for applying for this card, provided neither of these people were the citizens of any other country specified by the Central Government. It would not be issued to people of Indian origin living in Pakistan and Bangladesh. Moreover, these provisions should be in confirmation with the Government of India Act, 1935. These eligible contenders apply for the issuance of the card in the Indian Mission of the country where they are residing, and the same is authorized by an officer notified for the purpose or the Joint Secretary of the Ministry of Home Affairs. All the applications for issue or renewal of a PIO Card are to be made in the prescribed formats and accompanied by documentary evidence to show that the applicant is a person of Indian origin as defined.
The PIOs enjoy several economic, educational and literary benefits under the purview of this scheme. It is not mandatory for them to carry visas on their visits to India. If the continuous stay does not exceed 180 days then there is no need to register with the Foreigners Registration Officer however if the stay exceeds 180 days, then the registration is required to be done within a period of 30 days of the expiry of 180 days.
The PIO card holders also avail the services and future advantages available to the NRIs like: holding, acquiring, transferring and disposal of immovable properties in India except agricultural and plantation properties, admission of students in educational institutions including colleges and schools in India under the general category quota for NRIs and benefiting from various housing schemes of Life Insurance Corporation of India, State Governments and other Government agencies. They can purchase shares up to 5 per cent of the paid-up capital of an Indian company. However, they are not allowed to enjoy political rights in India. If someone has done some exceptional work associated with the development of the country or its infrastructure then a Gratis PIO card is issued in their name as a compliment to the effort exerted on their behalf.
Granting PIO cards and Overseas citizenship to Indians has certainly lent a hand in restoring and reinforcing the emotional bond amongst these Indians with the land of their origin and has encouraged the social and cultural development of their own country.
Wednesday, January 2, 2008
Indian Real Estate- A popular option for NRI’s
Sushil Kumar, a Non-Resident Indian based in Austin, Texas bought a 1000 sq feet flat in New Delhi, India costing Rs. 35 Lakhs in 2004. At that time he was upset with the fact that he was over-paying for it but today he not only has the worth of the flat more than double, however in addition to this he is truly elated that this real estate investment is giving him such good return. This example very clearly sums up the Indian Real Estate Market of today. According to the recent trends, the Indian property market is not only flourishing, but growing by leaps and bounds. Research data estimates that the Indian Real Estate Market is expected to grow from the current 14 billion dollars to 102 billion dollars in the next 10 years.
After the September 11 incident in the US, investments in Indian markets have gained momentum. India has encouraged Non Resident Indians (NRI’s) and Foreign Investors by giving them tax incentives and relaxation of foreign direct investments (FDI) rules. The RBI has further relaxed the rules for NRI’s with respect to returning of foreign exchange in real estate investments. In addition to being one of the safest destinations, India now offers 15 to 25 per cent returns which are conceivably the highest in the world. Mumbai alone accounts for 30 percent of the Indian real estate business in India.
India’s market potential
1. It is the fifth largest economy in the world (above France, Italy, the United Kingdom, and Russia)
2. It has the third largest GDP in the entire continent of Asia.
3. It is also the second largest among emerging nations.
Indian Real Estate sector: Facts and Figures
The Indian real estate has a massive potential demand in almost every segment especially commercial, retail, residential, healthcare, hospitality etc.
Now let us take a look at some of the facts and figures about the retail industry in India.
1. The projected size of the organized Indian real estate sector is approximately USD 12 billion of India's USD 600 billion economy; which is just 2% less as compared to the mature economies of the world.
2. Relaxation of the FDI rules has brought about capital gains in almost every sector of Indian economy. The government is also making efforts in removing the strict guidelines of FDI so that the system becomes NRI friendly.
3. An estimated 30% growth has been observed in the retail sector last year, due to the relaxed FDI norms and the connected growth drivers. It has been estimated that by 2010 the Indian real estate sector would be between somewhere between USD 45-50 billion
4. Real estate sector has the potential to reach the target of USD 90 billion in 10 years.
5. The real estate prices these days are already on the upswing in all markets across sectors since the last two years.
Foreign Investment (FDI) in Real Estate Sectors in India
Initially only NRI's and PIO's were the only ones who were allowed to invest in housing and real estate sectors. Foreign investors except NRI’s were permitted to invest only in the improvement of integrated township projects and that too through a wholly-owned subsidiary or a joint venture company with a local partner.
In 2005 the Indian government fully opened the FDI in real estate. However, the rules framed later limited the minimum capitalization of $10 million for a wholly-owned subsidiary and that of $5 million for a joint venture company mandatory. In addition to this in March 2005, the Department of Industrial Policy and Promotion allowed FDI in real estate projects in a minimum area of 25 acres.
The finance ministry has also allowed external commercial borrowing (ECB) in real estate projects concerning townships spread in an area of 25 acres or 50,000 sq m. However, this has not yet been notified by the RBI. In the present situation, the government has allowed FDI in real estate, but does not sanction foreign institutional investment. Nevertheless, the government is going to remove the gap in the meanings of FII and FDI and is also planning to levy the same rules for both types of investments.
NRI’s can now purchase, rent and transfer residential/ immovable property in India. However, the set of laws do not permit the NRIs and PIO’s to attain property like agricultural land, cultivated area and farm houses in India. However they can take the rental income of the property situated in India.
The NRI/PIO can use their own funds to buy immovable property; excluding the option of availing home loans from banks for this purpose. The NRI's ‘own funds’ refer to the money received in India by way of private transfer of funds from abroad, out of the income earned there including the personal savings outside India. These funds can be transferred through Non-Resident External (NRE), Non-Resident Ordinary (NRO) or Non resident foreign currency bank accounts.
Moreover, they can dispatch earnings from sale outside India for a maximum of two properties held here without taking any permission from RBI. The transfer of funds for subsequent properties requires RBI's approval. In case the property is bought from an Indian account, the remittance depends entirely on the nature of the holding period of the property. The various sectors in which investments in the real are done are the following:
Residential (Housing): The mortgage rates lowered from 18% to 8% in the last 5 years.
Commercial (Office space): the leasing in IT space is booming with 12 million sq ft leasing in Bangalore, 7.7 million sq ft in the National Capital Region and 6 million sq ft in Mumbai in 2007.
Retail (Shopping): Organized retail, which constitutes 2 % of the USD 200 billion sector, is expected to grow from USD 4 billion to USD 15 billion by 2010.
Hospitality (Hotels): Domestic and International investors are planning to invest in 3 and 4 star category hotels as India will require 75,000 to 1, 00,000 rooms in the next 5 years. Doe to the Commonwealth Games coming up in 2008 there will be a greater need for top class hotels to cater to the urgent need of rooms to vacate the teams and the viewers. Many international hotel chains like Hilton, Clariges, Radisson, Le Meridian etc. are expanding their hotel business in India and are purchasing large areas of property to construct 5 star hotels.
Other areas where the real estate business is coming to India are in the building of resorts, hospitals, educational institutions, recreational facilities, Special Economic zones etc.
Conditions for Foreign Investment in Real Estate Sector in India
Foreign Direct Investment in some of the areas (not all) is subject to some conditions, some of which are stated as follows:
1. The development of a minimum land area of 10 hectares for housing plots, and a minimum developed area of 50,000 sq m in case of construction projects is necessary. ‘Built-up’ or ‘developed’ is not properly defined but FSI (Floor Space Index) or FAR (Floor Area Ratio) can be used as the source for the same.
2. To fulfill the minimum capitalization limit of $10 million for a wholly-owned subsidiary and $5 million for Joint Ventures is the mandatory requirement and these funds should be brought in India within six months of the initiation of business (as defined in the contract).
3. To complete 50% of the project work in the time period of five years from the date of receiving all clearances.
4. Not to sell undeveloped plots i.e. without any infrastructure, to provide proper facilities and to obtain a completion certificate from the local body concerned before clearance. But in reality this process takes a long time and the certificates are issued at a very later stage which leads to uncertainty and an excess expenditure on the construction.
5. The original investment should not be sent back before three years from the completion of minimum capitalization. If this process is to be quickened then the prior permission of the Foreign Investment and Promotion Board should be sought.
6. The investments should be done in confirmation with all applicable local and state laws, and all rules and regulations should be followed to the fullest possible extent.
Reasons for investing in India
There are various reasons for foreign investors to invest in the real estate in India. 5 main reasons have been discussed here.
1. Resilience
It has been 20 years since the reforms in the Indian economy have begun. There have been various developments and the main amongst them are; the opening up of the economy to investments abroad, amplification of the domestic financial system, validation of interest and exchange rates, liberal approach for imports, a more favorable atmosphere for investing in business, and the services for the community as a whole.
This buoyancy is clearly evident from the fact that the standard economic growth rates have moved up (8.2% in the financial year ending in March 2006) and India is emerging as one of the top budding economies in the world. The change in the government has also not blocked growth entirely; in fact this has boosted the economic growth further.
2. Improved focus on agriculture and infrastructure
In the present times there has been a constant focus on agriculture (which accounts for about 22% of the economy) and infrastructure. This focus on agriculture and other associated activities, which ropes approximately 65 percent our country’s population will provide a new drive for economic growth.
3. Benefits of foreign direct investment
Although currently the FDI investments have stagnated but its worth can never be lost. The FDI not only enhances domestic capital and supports increase in the prolific capacity of the economy; it also provides an exposure to the world class and top-quality equipment, services, processes, goods and jobs.
4. The global outsourcing boom
Each time one discusses about outsourcing, the Indian business process outsourcing companies strike our minds. Mostly the afterthought is that BPO is a call centre, but in reality there is a lot more to this industry. Opportunely, India is benefiting from this business on a large scale.
Some examples of the work coming to India in this sector is: research and improvement of a variety of products and services which include pharmaceuticals also, merchandizing of automobile parts and the entire IT networks. Due to the efficient services of the Indians in this field and the growth in the satisfaction levels of the clients there is a lot of work coming in this sector to India soon.
5. Well-synchronized and deep money markets
The Indian stock markets which include banks and mutual funds are well synchronized by the Securities and Exchange Board of India and the RBI. Although the procedure suffers from many irregularities e.g. the culprits of the 1992 and 2000 scams are still being traced, but on the whole the functioning has improved dramatically now.
To conclude we can say that, this is not going to be a cakewalk in any sense. It's not an easy task to do business in India; rather it’s really problematic finding appropriate associates who have alike long-term objectives, since most firms are small-scale and family run. Margins have already dropped and majority of the real estate finances are targeting returns between 25% and 30%, but they can go down to 20% any time. Therefore it is very important for the government to monitor and support the real estate market so that the shortcomings and the loopholes which are being observed in the present can be eliminated to the fullest possible extent.
In spite of all the above fears, all agree that the potential of India's real estate sector is colossal. It is one of the most sought after markets for two main reasons. One, with a population of over a billion, the openings are numerous; no other market is witnessing this sort of development both in business as well as housing markets. Two, the industry has an average rate of return of 30% and it will not be a surprise if the local developers achieve an IRR of as much as 50%. Clearly, India is one of the toppers in the list of competitors in real estate in the world.
After the September 11 incident in the US, investments in Indian markets have gained momentum. India has encouraged Non Resident Indians (NRI’s) and Foreign Investors by giving them tax incentives and relaxation of foreign direct investments (FDI) rules. The RBI has further relaxed the rules for NRI’s with respect to returning of foreign exchange in real estate investments. In addition to being one of the safest destinations, India now offers 15 to 25 per cent returns which are conceivably the highest in the world. Mumbai alone accounts for 30 percent of the Indian real estate business in India.
India’s market potential
1. It is the fifth largest economy in the world (above France, Italy, the United Kingdom, and Russia)
2. It has the third largest GDP in the entire continent of Asia.
3. It is also the second largest among emerging nations.
Indian Real Estate sector: Facts and Figures
The Indian real estate has a massive potential demand in almost every segment especially commercial, retail, residential, healthcare, hospitality etc.
Now let us take a look at some of the facts and figures about the retail industry in India.
1. The projected size of the organized Indian real estate sector is approximately USD 12 billion of India's USD 600 billion economy; which is just 2% less as compared to the mature economies of the world.
2. Relaxation of the FDI rules has brought about capital gains in almost every sector of Indian economy. The government is also making efforts in removing the strict guidelines of FDI so that the system becomes NRI friendly.
3. An estimated 30% growth has been observed in the retail sector last year, due to the relaxed FDI norms and the connected growth drivers. It has been estimated that by 2010 the Indian real estate sector would be between somewhere between USD 45-50 billion
4. Real estate sector has the potential to reach the target of USD 90 billion in 10 years.
5. The real estate prices these days are already on the upswing in all markets across sectors since the last two years.
Foreign Investment (FDI) in Real Estate Sectors in India
Initially only NRI's and PIO's were the only ones who were allowed to invest in housing and real estate sectors. Foreign investors except NRI’s were permitted to invest only in the improvement of integrated township projects and that too through a wholly-owned subsidiary or a joint venture company with a local partner.
In 2005 the Indian government fully opened the FDI in real estate. However, the rules framed later limited the minimum capitalization of $10 million for a wholly-owned subsidiary and that of $5 million for a joint venture company mandatory. In addition to this in March 2005, the Department of Industrial Policy and Promotion allowed FDI in real estate projects in a minimum area of 25 acres.
The finance ministry has also allowed external commercial borrowing (ECB) in real estate projects concerning townships spread in an area of 25 acres or 50,000 sq m. However, this has not yet been notified by the RBI. In the present situation, the government has allowed FDI in real estate, but does not sanction foreign institutional investment. Nevertheless, the government is going to remove the gap in the meanings of FII and FDI and is also planning to levy the same rules for both types of investments.
NRI’s can now purchase, rent and transfer residential/ immovable property in India. However, the set of laws do not permit the NRIs and PIO’s to attain property like agricultural land, cultivated area and farm houses in India. However they can take the rental income of the property situated in India.
The NRI/PIO can use their own funds to buy immovable property; excluding the option of availing home loans from banks for this purpose. The NRI's ‘own funds’ refer to the money received in India by way of private transfer of funds from abroad, out of the income earned there including the personal savings outside India. These funds can be transferred through Non-Resident External (NRE), Non-Resident Ordinary (NRO) or Non resident foreign currency bank accounts.
Moreover, they can dispatch earnings from sale outside India for a maximum of two properties held here without taking any permission from RBI. The transfer of funds for subsequent properties requires RBI's approval. In case the property is bought from an Indian account, the remittance depends entirely on the nature of the holding period of the property. The various sectors in which investments in the real are done are the following:
Residential (Housing): The mortgage rates lowered from 18% to 8% in the last 5 years.
Commercial (Office space): the leasing in IT space is booming with 12 million sq ft leasing in Bangalore, 7.7 million sq ft in the National Capital Region and 6 million sq ft in Mumbai in 2007.
Retail (Shopping): Organized retail, which constitutes 2 % of the USD 200 billion sector, is expected to grow from USD 4 billion to USD 15 billion by 2010.
Hospitality (Hotels): Domestic and International investors are planning to invest in 3 and 4 star category hotels as India will require 75,000 to 1, 00,000 rooms in the next 5 years. Doe to the Commonwealth Games coming up in 2008 there will be a greater need for top class hotels to cater to the urgent need of rooms to vacate the teams and the viewers. Many international hotel chains like Hilton, Clariges, Radisson, Le Meridian etc. are expanding their hotel business in India and are purchasing large areas of property to construct 5 star hotels.
Other areas where the real estate business is coming to India are in the building of resorts, hospitals, educational institutions, recreational facilities, Special Economic zones etc.
Conditions for Foreign Investment in Real Estate Sector in India
Foreign Direct Investment in some of the areas (not all) is subject to some conditions, some of which are stated as follows:
1. The development of a minimum land area of 10 hectares for housing plots, and a minimum developed area of 50,000 sq m in case of construction projects is necessary. ‘Built-up’ or ‘developed’ is not properly defined but FSI (Floor Space Index) or FAR (Floor Area Ratio) can be used as the source for the same.
2. To fulfill the minimum capitalization limit of $10 million for a wholly-owned subsidiary and $5 million for Joint Ventures is the mandatory requirement and these funds should be brought in India within six months of the initiation of business (as defined in the contract).
3. To complete 50% of the project work in the time period of five years from the date of receiving all clearances.
4. Not to sell undeveloped plots i.e. without any infrastructure, to provide proper facilities and to obtain a completion certificate from the local body concerned before clearance. But in reality this process takes a long time and the certificates are issued at a very later stage which leads to uncertainty and an excess expenditure on the construction.
5. The original investment should not be sent back before three years from the completion of minimum capitalization. If this process is to be quickened then the prior permission of the Foreign Investment and Promotion Board should be sought.
6. The investments should be done in confirmation with all applicable local and state laws, and all rules and regulations should be followed to the fullest possible extent.
Reasons for investing in India
There are various reasons for foreign investors to invest in the real estate in India. 5 main reasons have been discussed here.
1. Resilience
It has been 20 years since the reforms in the Indian economy have begun. There have been various developments and the main amongst them are; the opening up of the economy to investments abroad, amplification of the domestic financial system, validation of interest and exchange rates, liberal approach for imports, a more favorable atmosphere for investing in business, and the services for the community as a whole.
This buoyancy is clearly evident from the fact that the standard economic growth rates have moved up (8.2% in the financial year ending in March 2006) and India is emerging as one of the top budding economies in the world. The change in the government has also not blocked growth entirely; in fact this has boosted the economic growth further.
2. Improved focus on agriculture and infrastructure
In the present times there has been a constant focus on agriculture (which accounts for about 22% of the economy) and infrastructure. This focus on agriculture and other associated activities, which ropes approximately 65 percent our country’s population will provide a new drive for economic growth.
3. Benefits of foreign direct investment
Although currently the FDI investments have stagnated but its worth can never be lost. The FDI not only enhances domestic capital and supports increase in the prolific capacity of the economy; it also provides an exposure to the world class and top-quality equipment, services, processes, goods and jobs.
4. The global outsourcing boom
Each time one discusses about outsourcing, the Indian business process outsourcing companies strike our minds. Mostly the afterthought is that BPO is a call centre, but in reality there is a lot more to this industry. Opportunely, India is benefiting from this business on a large scale.
Some examples of the work coming to India in this sector is: research and improvement of a variety of products and services which include pharmaceuticals also, merchandizing of automobile parts and the entire IT networks. Due to the efficient services of the Indians in this field and the growth in the satisfaction levels of the clients there is a lot of work coming in this sector to India soon.
5. Well-synchronized and deep money markets
The Indian stock markets which include banks and mutual funds are well synchronized by the Securities and Exchange Board of India and the RBI. Although the procedure suffers from many irregularities e.g. the culprits of the 1992 and 2000 scams are still being traced, but on the whole the functioning has improved dramatically now.
To conclude we can say that, this is not going to be a cakewalk in any sense. It's not an easy task to do business in India; rather it’s really problematic finding appropriate associates who have alike long-term objectives, since most firms are small-scale and family run. Margins have already dropped and majority of the real estate finances are targeting returns between 25% and 30%, but they can go down to 20% any time. Therefore it is very important for the government to monitor and support the real estate market so that the shortcomings and the loopholes which are being observed in the present can be eliminated to the fullest possible extent.
In spite of all the above fears, all agree that the potential of India's real estate sector is colossal. It is one of the most sought after markets for two main reasons. One, with a population of over a billion, the openings are numerous; no other market is witnessing this sort of development both in business as well as housing markets. Two, the industry has an average rate of return of 30% and it will not be a surprise if the local developers achieve an IRR of as much as 50%. Clearly, India is one of the toppers in the list of competitors in real estate in the world.
NRI Facts
Patel most common Indian surname in US
The US Census Bureau study found that Patel, ranked 172nd, is the most common Indian surname in America. A total number of 145,000 Patels are in the US.The study was based on returns from the 2000 census that takes place every ten years, with the Western name Smith taking the top position.The second most common Indian last name was Singh, its overall ranking was 396th, with 72,642 Singhs in the country. Singhs are Sikhs and also Hindus with roots in states other than Punjab.Khans ranked at 665th, but Khans come from Pakistan and Afghanistan as well as India.Shah ranked at 831, Sharma at 2247, Kumar at 2293 and Desai at 2540. Guptas, Reddys, Mehtas and Raos brought up the rear.The growth of the Indian origin population was the highest among all Asian origin groups. From 820,000 in 1990 it rose to 1.6 million in 2000 and is the third largest Asian American group in the US.
Indian Diaspora is largest in globalized world
More than 20 million Persons of Indian Origin and some 6 million Non resident Indians are spread over 136 countries, making the Indian diaspora the largest in the world.More than 40 percent of the population are from the diaspora in Fiji, Mauritius, Trinidad, Guyana and Surinam. In Southeast Asia, Malaysia leads with 7.3 percent of its population being from India.The situation in Malaysia however is disturbing, with divisions along racial lines, reinforced by religion, culture, language and occupation. Thousand of Indians returned to India after racial riots in 1969. In 2003 a number of Indian IT professionals were maltreated by Malaysian authorities. Over 40 percent of serious crimes in Malaysia are committed by Indians, who also have the highest suicide rate and cases of domestic abuse and deliquency abound.
India Now Festival starts in London
Kicking off a summer of celebrations marking London's links with India, Mayor Ken Livingstone sailed down the River Thames alongside a custom built replica of the Taj Mahal.The three month festival will feature 1,500 events focusing on Indian art, theatre, food, fashion, music, dance, film and will have an economic slant as well.Mayor Livingstone acknowledged India as an emerging economic superpower, and an important nation with an important culture. He stated London is aiming to strengthen its ties with India and lent his support to a festival tour of London promoting the time spent in the city by Mahatma Gandhi, starting in 1888, when lived in Tavistock Street, Covent Garden, the inner temple and Farringdon Street during his years training as a barrister. Livingstone will visit India in November to demonstrate the interest in the city's relationship with India.Of London's population, over 430,000 are of Indian origin. India is the second largest country with inward investment projects in London. 212,000 Indians visited London in 2006. 4,000 students study in London contributing 60 million pounds to London's economy.
Hindu followers in Australia double
The '06 census by the Australian Bureau of Statistics confirmed that followers of Hinduism in Australia have doubled since 1996 and now comprise 0.7 percent of the total population.Budhists have also doubled to more than 2 percent, Islam followers make up 1.7 percent and Judaism 0.4 percent. Christians remained the largest group.
Emigration from India started over 2,500 years ago !
The emigration of people from India has been recorded as starting over 2,500 years ago when adventurers travelled by sailboat to the shores of Africa, South East Asia and the Far East. The voyagers negotiated the ocean waters to venture to Java, Sumatra, Cambodia, Vietnam, Bali and the Philippines tackling the monsoon winds and taking with them to their new lands, a rich contribution of culture, calligraphy, methods of cultivation, handicrafts and new industries, all in the calmness and peace of the time. Later the abolition of slavery prompted the occupying European countries of England, Holland, France, Portugal and Spain with their accompanying military forces, to move Indian labour to the sugar plantations of Jamaica, South Africa and Mauritius, and builders of the Kenya Railway were sourced from the Punjab. Farmers were needed in Canada and were taken there from the Punjab around the 1930s.
Further along history Britain and the US needed factory workers and skilled professionals and admitted Indians in substantial numbers from the 1960s onwards.Most recently at the end of the twentieth century Indian info tech workers went over to fix the dreaded Millennium Bug in computer systems, followed by thousands of IT professionals. This is the new generation of the Indian diaspora who continue to maintain their links with India through their way of life, culture, food and religions.
The US Census Bureau study found that Patel, ranked 172nd, is the most common Indian surname in America. A total number of 145,000 Patels are in the US.The study was based on returns from the 2000 census that takes place every ten years, with the Western name Smith taking the top position.The second most common Indian last name was Singh, its overall ranking was 396th, with 72,642 Singhs in the country. Singhs are Sikhs and also Hindus with roots in states other than Punjab.Khans ranked at 665th, but Khans come from Pakistan and Afghanistan as well as India.Shah ranked at 831, Sharma at 2247, Kumar at 2293 and Desai at 2540. Guptas, Reddys, Mehtas and Raos brought up the rear.The growth of the Indian origin population was the highest among all Asian origin groups. From 820,000 in 1990 it rose to 1.6 million in 2000 and is the third largest Asian American group in the US.
Indian Diaspora is largest in globalized world
More than 20 million Persons of Indian Origin and some 6 million Non resident Indians are spread over 136 countries, making the Indian diaspora the largest in the world.More than 40 percent of the population are from the diaspora in Fiji, Mauritius, Trinidad, Guyana and Surinam. In Southeast Asia, Malaysia leads with 7.3 percent of its population being from India.The situation in Malaysia however is disturbing, with divisions along racial lines, reinforced by religion, culture, language and occupation. Thousand of Indians returned to India after racial riots in 1969. In 2003 a number of Indian IT professionals were maltreated by Malaysian authorities. Over 40 percent of serious crimes in Malaysia are committed by Indians, who also have the highest suicide rate and cases of domestic abuse and deliquency abound.
India Now Festival starts in London
Kicking off a summer of celebrations marking London's links with India, Mayor Ken Livingstone sailed down the River Thames alongside a custom built replica of the Taj Mahal.The three month festival will feature 1,500 events focusing on Indian art, theatre, food, fashion, music, dance, film and will have an economic slant as well.Mayor Livingstone acknowledged India as an emerging economic superpower, and an important nation with an important culture. He stated London is aiming to strengthen its ties with India and lent his support to a festival tour of London promoting the time spent in the city by Mahatma Gandhi, starting in 1888, when lived in Tavistock Street, Covent Garden, the inner temple and Farringdon Street during his years training as a barrister. Livingstone will visit India in November to demonstrate the interest in the city's relationship with India.Of London's population, over 430,000 are of Indian origin. India is the second largest country with inward investment projects in London. 212,000 Indians visited London in 2006. 4,000 students study in London contributing 60 million pounds to London's economy.
Hindu followers in Australia double
The '06 census by the Australian Bureau of Statistics confirmed that followers of Hinduism in Australia have doubled since 1996 and now comprise 0.7 percent of the total population.Budhists have also doubled to more than 2 percent, Islam followers make up 1.7 percent and Judaism 0.4 percent. Christians remained the largest group.
Emigration from India started over 2,500 years ago !
The emigration of people from India has been recorded as starting over 2,500 years ago when adventurers travelled by sailboat to the shores of Africa, South East Asia and the Far East. The voyagers negotiated the ocean waters to venture to Java, Sumatra, Cambodia, Vietnam, Bali and the Philippines tackling the monsoon winds and taking with them to their new lands, a rich contribution of culture, calligraphy, methods of cultivation, handicrafts and new industries, all in the calmness and peace of the time. Later the abolition of slavery prompted the occupying European countries of England, Holland, France, Portugal and Spain with their accompanying military forces, to move Indian labour to the sugar plantations of Jamaica, South Africa and Mauritius, and builders of the Kenya Railway were sourced from the Punjab. Farmers were needed in Canada and were taken there from the Punjab around the 1930s.
Further along history Britain and the US needed factory workers and skilled professionals and admitted Indians in substantial numbers from the 1960s onwards.Most recently at the end of the twentieth century Indian info tech workers went over to fix the dreaded Millennium Bug in computer systems, followed by thousands of IT professionals. This is the new generation of the Indian diaspora who continue to maintain their links with India through their way of life, culture, food and religions.
Subscribe to:
Posts (Atom)
Case Studies
LATEST AMENDMENTS