‘NRI deposits $65 billion in 6 months’

NEW DELHI: Reminding the role played by non-resident Indians (NRIs) in India’s development, UK-based leading industrialist Lord Swraj Paul has said almost $ 65 billion have come into India in the last six months through NRI deposits.

Lord Paul, who is the Founder Chairman of UK-based Caparo Group, also said “India tends to forget” the contributions made by the NRI community.
“Even now, as late as last year, or this year when the financial crisis hit India, they (government) are finding our banks are suffering from a lot of non-performing assets (NPAs). The NRIs have come to the country on the call of the Reserve Bank of India (RBI),” he said at a dinner hosted in his honour by the NRI Institute here last night.
“Almost $ 65 billion have come in the last six months from NRI deposits,” Lord Paul added.
“Somehow India tends to forget what the NRIs have contributed. They are the one’s who came to India’s help in 1990s when the government of India opened the business…,” he added.
Lord Paul said he hoped the Indian government and the people will consider NRIs as their own. He said the community is as proud of India as anybody in India.
—PTI