A COMPREHENSIVE STUDY OF NON RESIDENT INDIANS IN THE DEVELOPMENT OF INDIAN ECONOMY

Abstract

The Non resident Indians who have Sizeable resources besides technical and . managerial skill, can support their motherland in a big way to attain the desired level of growth and development The contribution and the assistance which will come from NRIs is of great value and immense importance because each transfer enhances the foreign exchange pool of the country. This is also the major source of foreign currency inflow. Remittances also increase the purchasing power of people which drives the consumption market. NRI money transfers in India are channelized towards better education, healthcare, investments, savings etc.

Many a times NRIs provide financial assistance in natural disasters like the recent floods and they are also seen supporting charities. Their money transfers are employed in different sectors such as healthcare education system, infrastructure, investment and savings and many more.

They form just the one Percent of total population of India still creates a vital impact overall.