There are YES answer and NO answer as well. However, investment for huge industrial set up....etc. is what we are talking about...though we know, no nation was built in a day and drop by drop a glass if filled...still, it's advisable to think laterally as well as theoretically as well as practically....
Imagine, a family migrated with bright future to USA a land of opportunities or to Australia or to New Zealand or Canada or in Europe or in Gulf.....
Just a case in a past or today.....
Suppose 90% send the Remittances to India up to 10 years. Later when they get permanent residence or citizenship, then?
Also, if their parents back in India and other old relatives are replaced by the juniors, will they sent the Remittance? Definitely, No.
We have seen some cases, when, children once got used to the conditions and systems of USA, UK and their parents came to India, the children could not survive....parents had to take them back and after these children got married, they didn't let their children came back to third world nation....it's a case of 1990's though, but, it's a fact. Even there is no communication and remittance coming from them.... now this genius family is citizen of USA.... is it loss to India or gain to USA or gain to the humanity or gain to global citizen that's a new issue now. Once they got rich. Now, they are not willing to invest back in India. The investment climate and 'let investors earn' climate is not good, they are saying. The counter question was, "Don't you want to serve your nation of origin?" The counter and fantastic rather classical answer was, "We can't ditch the nation we live." True. This is the story/ tale of 4.90%.
Later, once, a lady had a call for arranged marriage, from Indian family, she refused on the ground that the way the Indian Hindi movies show, she can't touch feet of her in-laws time to time....she is not interested to come back to India and her parents are not willing to invest back in backward country like India. This is the tell of many.
One of the friend of mine said, "Ashish, we earn mere USD 3000/= or we earn "X"and can hardly save USD 50/ month, how can we remit or invest in India? We earn in dollars and spend in dollars....it's you back in India those calculate USD 1 = INR 65 or 50 or 45 or 35 times....it's all ....not true...Studying is costly, gas is costly, nay how even if we live frugal life....we can't....."...This is the tale/ story of 95%.
Now, left are 0.1%, who are really rich and famous and this and that....ask them "Will they do the business in case they don't earn much or if they have no freedom or if they have more taxes or if they have no choices for HR policies or...."...
Thus, if countries like India, have to progress, they have to create climate like such rich people are born and let excel in India itself....otherwise, there are many hurdles to catch them back...and on moral ground to how can citizens of other nations be called our people, who will help us everyday? Once in a while it's ok, but, everyday, 24 X 7 X 365/ 366....they will call us headache country, if we demand investment everyday....even if they invest in our stock market, if they see a loss in it frequently, they might stop doing it...
Some of the people are thinking like this.....They may attend the party, make merry, but when it comes to investment...they will wait and watch obviously.... It's difficult but not impossible though to bring their confidence back...or them back.....but people lost are lost for ever... Take example WITH DUE RESPECT of His Highness President Obama, will he go back to Kenya again?.... Answer is No, he is devotee of USA now which has given him everything. He might invest something but at the end of the day it's majority of businessmen those have to invest and if investment climate, environment, ecology, HR practices are not favorable to them, and image of the nation is not ok, then....impossible. Similar is the case with majority of highly literate migratory people.....
Then what's the option left?
One word answer is: "Indigenisation".
Developing by taking your own people into confidence, allowing them to excel....creating favorable HR policies for all the organisations...keeping vigilance department to let the whole country and all countries work like top 10 best companies to work....in the world....standard norms for wages/ pay package that are at par with developed nations.....doing business is at least ok if not great....Later, if you built confidence of your own people back in your country then, these people will tell yes it's ok to invest in India or the nation....you name...
I'm well wisher of this world, in fact,....hence, this effort.
Aum. Amin. Amen.
Dr. Ashish Manohar Urkude, India.
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