India considers introduction of 'diaspora bonds'

Sat, 22 June 2013

21:12

In a bid to attract investment from NRIs, India is considering introduction of "diaspora bonds" to facilitate greater inflow of funds in the infrastructure sector.

Overseas Indian Affairs Minister Vayalar Ravi said government was examining longer-term investment instruments for the overseas Indians so that the community can participate and benefit from India's "growth story".

"The bulk of diaspora investments are in portfolio investments of a short-term nature. We are considering longer term investment instruments like 'diaspora bonds' to provide opportunities for overseas Indians," Ravi said addressing the 5th biennial diaspora conference.

Underlining the need for greater two-way engagement between India and its diaspora, Ravi said government has initiated a number of initiatives to ensure greater participation of the community in economy of the country.

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