{"id":227139,"date":"2023-02-18T19:24:28","date_gmt":"2023-02-18T13:54:28","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=227139"},"modified":"2023-02-18T19:24:56","modified_gmt":"2023-02-18T13:54:56","slug":"a-bigger-idea-of-india-why-indians-already-command-economic-heft-of-5-trillion-and-how-we-can-leverage-this","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/a-bigger-idea-of-india-why-indians-already-command-economic-heft-of-5-trillion-and-how-we-can-leverage-this\/","title":{"rendered":"A Bigger Idea Of India – Why Indians already command economic heft of $5 trillion and how we can leverage this"},"content":{"rendered":"\n

Source<\/strong>: The post is based on the article\u00a0\u201cA Bigger Idea Of India – Why Indians already command economic heft of $5 trillion and how we can leverage this\u201d <\/strong>published in The Times of India <\/b>on\u00a018th February 2023<\/b>.<\/p>\n

Syllabus<\/strong>: GS 2 \u2013 Indian diaspora.<\/p>\n

Relevance<\/strong>: About the Indian diaspora’s wealth.<\/p>\n

News<\/strong>: Indian expatriates and persons of Indian origin overseas at present amount to around 3. 2 crores. They are highly skilled and successful, and they also have an emotional attachment to any Indian cultural events occurring overseas. It is time for India to leverage this strength.<\/p>\n

About the Indian diaspora’s economic wealth<\/strong><\/h2>\n

In several countries, Indians are among the top earners. A 2012 estimate of the diaspora\u2019s wealth was $1 trillion. At present, this wealth has increased manyfold.<\/p>\n

The collective economic heft of Indians abroad to India\u2019s GDP will be around $ 3. 5 trillion at the end of March. Indians already generate an economic value of well over $5 trillion.<\/p>\n

It means that geographical India will likely have a GDP of $5 trillion by 2025. But the other India (which includes persons abroad and invested in India) is already a $5 trillion-plus powerhouse.<\/p>\n\n\n\n
Read more: Indian Diaspora in US and its Impacts on India- US Relations<\/a><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

What are the advantages of the Indian diaspora’s wealth?<\/strong><\/h2>\n

A country\u2019s top income earners are pivotal to the country’s economic progress. For instance, they invest, they innovate, they take risks, they back new technology and also they create jobs.<\/p>\n

Indian diaspora already sends $100 billion in remittances to India annually. This is the highest remittance figure in the world.<\/p>\n

What should be done to completely utilise the Indian diaspora’s wealth?<\/strong><\/h2>\n

In business, network effects kick in when the value of a product is intrinsically tied to the increase in the number of users. The network effect of high-earning, high-performing Indians abroad should be entirely invested in the idea of India\u2019s progress.<\/p>\n

In the ET Global Business Summit, PM highlighted the immense value of the Indian diaspora. It is time for business leaders and policymakers to integrate the diaspora\u2019s economic dynamism.<\/p>\n\n\n\n
Read more: The role played by Indian diaspora in India\u2019s growth story and diplomatic efforts<\/a><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Source: The post is based on the article\u00a0\u201cA Bigger Idea Of India – Why Indians already command economic heft of $5 trillion and how we can leverage this\u201d published in The Times of India on\u00a018th February 2023. Syllabus: GS 2 \u2013 Indian diaspora. Relevance: About the Indian diaspora’s wealth. News: Indian expatriates and persons of… Continue reading A Bigger Idea Of India – Why Indians already command economic heft of $5 trillion and how we can leverage this<\/span><\/a><\/p>\n","protected":false},"author":10311,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[212,10496],"class_list":["post-227139","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-2","tag-times-of-india","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":1700779100,"cached_date":1704908701},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/227139","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10311"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=227139"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/227139\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=227139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=227139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=227139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}