Re: [Goanet] How the NRI has fallen from grace
August 25, 2009 - Goanet's 15th Anniversary I. Nunes responds to mmendonz...@gmail.com: The Indian diaspora is upwards of 20 million. [World Bank estimates US$ 52 billion in remittances to India for 2008.This excludes gold and gems.] Intuitively it would appear that Indians working in the Gulf countries would tend to remit more as they will always be gastarbeiters or guest workers, never attaining full citizenship irrespective of their tenure. Whereas Indians in the Western countries would be more likely to emigrate with their families, obviating the need for most remittances. Not quite so. Just to put matters in the correct perspective - the Reserve Bank of India perspective: In the last RBI study (2006) of remittances by NRIs with breakdown by source country found: N. America accounted for 44%, Gulf Countries 24% Europe 13% East Asia 8% S. America 6% Africa 2% other 3% Reported in RBI Bulletin: http://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/74250.pdf These additional reported facts might interest you: 1. The Hindu Business section at http://www.thehindubusinessline.com/2006/08/09/stories/2006080905091900.htm reported: a. AP received the highest NRI remittances, with Maharastra second in 2006. b. The US and Saudi Arabia were the largest sources of workers' remittances to developing countries. [Not just in India] 2. Rediff.com/money in their September 05, 2007 article: NRI remittance: How it is invested reported About 13 per cent of the funds remitted by Non-Resident Indians (NRIs) in 2006 were invested in equity and real estate. While 20 per cent of the funds are parked in bank deposits, 54 per cent of remittances are used to meet family expenses, according to a Reserve Bank of India. best, I. Nunes. --- On Thu, 8/20/09, Marshall Mendonza mmendonz...@gmail.com wrote: From: Marshall Mendonza mmendonz...@gmail.com Subject: [Goanet] How the NRI has fallen from grace To: goanet goanet@lists.goanet.org Date: Thursday, August 20, 2009, 11:19 AM lyrawmn : Do you think Mr. Swapan Dasgupta is aware that NRIs remitted US $24.6 billion in 2005-6 and US$ 43.5 billion 2007-8 according to the Reserve Bank of India? [Reported by?the Financial Express in India.]This is estimated to be about 3% India's GDP. Response: Just to put matters in proper perspective. The bulk of foreign remittances come from Indians working in the Gulf and not from those settled in USA or the West. Regards, Marshall
[Goanet] How the NRI has fallen from grace
August 20 - WORLD GOA DAY Celebrating the inclusion of Konkani in the 8th schedule of the Indian Constitution on August 20, 1992 For a list of World Goa Day events see: http://worldgoaday2009.blogspot.com lyrawmn : Do you think Mr. Swapan Dasgupta is aware that NRIs remitted US $24.6 billion in 2005-6 and US$ 43.5 billion 2007-8 according to the Reserve Bank of India? [Reported by?the Financial Express in India.]This is estimated to be about 3% India's GDP. Response: Just to put matters in proper perspective. The bulk of foreign remittances come from Indians working in the Gulf and not from those settled in USA or the West. Regards, Marshall
[Goanet] How the NRI has fallen from grace
- BOOK RELEASE: Medieval Goa by Teotonio R. de Souza Will be re-released after 30 years on August 21, 2009 at 5:15pm at Goa Chambers of Commerce and Industry Hall, near Azad Maidan in Panjim, Goa http://medieval-goa.notlong.com - Entertaining article by Swapan Dasgupta in yesterday's TOI on NRIs. See http://blogs.timesofindia.indiatimes.com/right-and-wrong/entry/how-the-non-resident-indian The last two paras are pasted below. --- The average NRI’s fall from grace in India has been precipitate. The vacuous condescension that marked earlier attitudes has been replaced by desperation to find some accommodation somewhere. The big NRI players have no problem — they have seen their social worth in the West keep pace with India’s soaring reputation as a rising power. But the small fish whose tie and a twang once enabled him to lord over his less fortunate brethren in India has seen envy replaced with disinterest. To the NRI confronted with a precarious descent into obscurity, there is only a small solace: interventions on the net. Taking advantage of a more connected world, the professional NRI (who knows no other identity) has stepped up his battles to cast India in his own confused image. No Indian website is free from the voluminous but pernicious comments of the know-all, ultra-nationalist NRI banging away on the computer in splendid isolation. From being India’s would-be benefactors, the meddlesome NRI has become an intellectual nuisance, derailing civil discourse with his paranoia and pseudo-superiority. It’s time he was royally ignored. -- Question everything -- Karl Marx
[Goanet] How the NRI has fallen from grace
- BOOK RELEASE: Medieval Goa by Teotonio R. de Souza Will be re-released after 30 years on August 21, 2009 at 5:15pm at Goa Chambers of Commerce and Industry Hall, near Azad Maidan in Panjim, Goa http://medieval-goa.notlong.com - Just perhaps, Dasgupta is using a broad brush, but taking off on his fellow Banglas -- alluding to the former erstwhile babus/of babudom. I strongly doubt whether the NRIs vocal Goanet fall into that category. If it matters at all, Goan NRIs who are on Goanet, and living in the US, are doing well by most yardsticks. They have their say here not because people In India do not give them the time of day( they do) but to spell out their positions and test and tease each other out. NRIs, if at all they have have fallen from grace; such speculations or theorems must be opined in individual minds of Goanetters within India. Until those individuals say something, Dasgupta's observations do not touch NRI Goanetters. We have not heard an iota of such expression on Goanet, so the real entertainment value is shallow. If they have fallen from grace, on account of not distributing their wealth as in cash, then that is another story. In my experience I have noticed that although we may use particular collectives, say such as NRIs, Goans, artist, doctors, etc., to describe people and leanings—they rarely conform to any such commonage. I believe that life even on a kibuutz is less common and mundane than we thought. Speaking for myself, I say my bit since it fits in precisely with my mind, and spirit -- which is further expressed through artistic labor. venantius j pinto From: Vidyadhar Gadgil vgad...@gmail.com Subject: [Goanet] How the NRI has fallen from grace Entertaining article by Swapan Dasgupta in yesterday's TOI on NRIs. See http://blogs.timesofindia.indiatimes.com/right-and-wrong/entry/how-the-non-resident-indian The last two paras are pasted below. --- The average NRI?s fall from grace in India has been precipitate. The vacuous condescension that marked earlier attitudes has been replaced by desperation to find some accommodation somewhere. The big NRI players have no problem ? they have seen their social worth in the West keep pace with India?s soaring reputation as a rising power. But the small fish whose tie and a twang once enabled him to lord over his less fortunate brethren in India has seen envy replaced with disinterest. To the NRI confronted with a precarious descent into obscurity, there is only a small solace: interventions on the net. Taking advantage of a more connected world, the professional NRI (who knows no other identity) has stepped up his battles to cast India in his own confused image. No Indian website is free from the voluminous but pernicious comments of the know-all, ultra-nationalist NRI banging away on the computer in splendid isolation. From being India?s would-be benefactors, the meddlesome NRI has become an intellectual nuisance, derailing civil discourse with his paranoia and pseudo-superiority. It?s time he was royally ignored. -- Question everything -- Karl Marx --
Re: [Goanet] How the NRI has fallen from grace
* G * O * A * N * E * T C * L * A * S * S * I * F * I * E * D * S * Apartment for sale in Campal/Miramar area, Panaji, Goa. Spacious 3 bedroom flat (3BHK)available for sale in upscale area near Miramar beach Contact: goaengineer...@aol.com Hello V. Gadgil, Do you think Mr. Swapan Dasgupta is aware that NRIs remitted US $24.6 billion in 2005-6 and US$ 43.5 billion 2007-8 according to the Reserve Bank of India? [Reported by the Financial Express in India.] This is estimated to be about 3% India's GDP. The World Bank reports US $52 billion of NRI remittances to India for 2008. [This is projected to decrease ~10% for 2009-2010, naturally.] Does this excuse the crass behaviour and conspicuous consumerism of some NRIs? NO! These yobs should be royally ignored. I. Nunes --- On Mon, 8/17/09, Vidyadhar Gadgil vgad...@gmail.com wrote: From: Vidyadhar Gadgil vgad...@gmail.com Subject: [Goanet] How the NRI has fallen from grace To: Goanet mails goa...@goanet.org Date: Monday, August 17, 2009, 7:01 AM - Entertaining article by Swapan Dasgupta in yesterday's TOI on NRIs. See http://blogs.timesofindia.indiatimes.com/right-and-wrong/entry/how-the-non-resident-indian The last two paras are pasted below. --- The average NRI’s fall from grace in India has been precipitate. The vacuous condescension that marked earlier attitudes has been replaced by desperation to find some accommodation somewhere. The big NRI players have no problem — they have seen their social worth in the West keep pace with India’s soaring reputation as a rising power. But the small fish whose tie and a twang once enabled him to lord over his less fortunate brethren in India has seen envy replaced with disinterest. To the NRI confronted with a precarious descent into obscurity, there is only a small solace: interventions on the net. Taking advantage of a more connected world, the professional NRI (who knows no other identity) has stepped up his battles to cast India in his own confused image. No Indian website is free from the voluminous but pernicious comments of the know-all, ultra-nationalist NRI banging away on the computer in splendid isolation. From being India’s would-be benefactors, the meddlesome NRI has become an intellectual nuisance, derailing civil discourse with his paranoia and pseudo-superiority. It’s time he was royally ignored. -- Question everything -- Karl Marx
