5 NRI Who Made India Proud and Everything About Pravasi Bharatiya Divas 2023
Table of Content:
- NRI Day 2023/ Pravasi Bharatiya Divas 2023
- NRI Meaning/ Who are Called NRI?
- What is NRI Day/ Pravasi Bharatiya Divas and When it is Celebrated?
- NRI Day 2023/ Pravasi Bharatiya Divas 2023 Theme
- Top 5 NRI’s Who Made India Proud
- Plenary Sessions of 17th Pravasi Bharatiya Divas
- NRI’s and Indian Economy
- Investment Schemes Launched for NRIs by the Government of India
1. Where will NRI Day 2023/ Pravasi Bharatiya Divas 2023 will be Held?
The Ministry of External Affairs' spokesperson, Arindam Bagchi, confirmed that the Pravasi Bharatiya Divas 2023 will be hosted in Indore after a two-year break. As a result, the Pravasi Bharatiya Divas 2023 will be held in Indore, Madhya Pradesh, from January 8 to 10, 2023. This year India will celebrats the 17th Pravasi Bharatiya Divas, or NRI Day and Dr. Mohamed Irfaan Ali is goint to be the chief guest of NRI Day 2023/ Pravasi Bharatiya Divas 2023.
When will NRI Day 2024/ Pravasi Bharatiya Divas 2024 be Celebrated?
This year India will celebrate the 18th Pravasi Bharatiya Divas, or NRI Day. NRI Day 2024 will be celebrated across India on January 9th.
What is NRI Day 2024 Theme/ Pravasi Bharatiya Divas 2024 Theme?
The Pravasi Bharatiya Divas 2024 Theme, or NRI Day 2024 Theme is not announced yet by Ministry of External Affairs.
The Ministry of External Affairs' spokesperson, Arindam Bagchi, confirmed that the Pravasi Bharatiya Divas 2023 will be hosted in Indore after a two-year break. As a result, the Pravasi Bharatiya Divas 2023 will be held in Indore, Madhya Pradesh, from January 8 to 10, 2023. This year India will celebrats the 17th Pravasi Bharatiya Divas, or NRI Day and Dr. Mohamed Irfaan Ali is goint to be the chief guest of NRI Day 2023/ Pravasi Bharatiya Divas 2023.
When will NRI Day 2024/ Pravasi Bharatiya Divas 2024 be Celebrated?
This year India will celebrate the 18th Pravasi Bharatiya Divas, or NRI Day. NRI Day 2024 will be celebrated across India on January 9th.
What is NRI Day 2024 Theme/ Pravasi Bharatiya Divas 2024 Theme?
The Pravasi Bharatiya Divas 2024 Theme, or NRI Day 2024 Theme is not announced yet by Ministry of External Affairs.
2. NRI Meaning/ Who are Called NRI?
NRI stands for "Non-Resident Indian." It refers to a person of Indian origin who holds an Indian passport but is currently living outside of India, either for work, education, or other reasons. NRIs are considered to be citizens of India, but they are not considered to be residents of India for tax purposes. NRIs are generally allowed to visit and stay in India for a certain number of days each year without having to pay Indian taxes on their income. However, NRIs are still required to pay taxes on any income that they earn in India.
According to section 6 of The Income-tax Act, 1961, a non-resident citizen is a person who has not residing in India for a specified period, and therefore, cannot be taxed as a resident. For NRIs and residents of India, income tax rates differ.
To be considered a resident of India for income tax purposes, you must spend at least 182 days in India in a financial year or 365 days spread out over four consecutive years, plus a minimum of 60 days in each of those years. NRIs are Indian citizens who do not meet the criteria for being a "resident of India" and are treated as non-residents of India for income tax purposes. A person's NRI status does not prevent them from investing in India.
Check Out Our Other Blog to Know More About Pravasi Bhartiya Divas (PBD) or NRI Day (Non-Residential Indian Day) – NRI stands for "Non-Resident Indian." It refers to a person of Indian origin who holds an Indian passport but is currently living outside of India, either for work, education, or other reasons. NRIs are considered to be citizens of India, but they are not considered to be residents of India for tax purposes. NRIs are generally allowed to visit and stay in India for a certain number of days each year without having to pay Indian taxes on their income. However, NRIs are still required to pay taxes on any income that they earn in India.
According to section 6 of The Income-tax Act, 1961, a non-resident citizen is a person who has not residing in India for a specified period, and therefore, cannot be taxed as a resident. For NRIs and residents of India, income tax rates differ.
To be considered a resident of India for income tax purposes, you must spend at least 182 days in India in a financial year or 365 days spread out over four consecutive years, plus a minimum of 60 days in each of those years. NRIs are Indian citizens who do not meet the criteria for being a "resident of India" and are treated as non-residents of India for income tax purposes. A person's NRI status does not prevent them from investing in India.
7 Ways NRIs are Powering India's Economic Growth
भारतीय प्रवासी दिवस - परिचय, कब और क्यों मनाया जाता है?
3. What is Non-Residential Indian Day / Pravasi Bharatiya Divas and When is NRI Day Celebrated in India?
Pravasi Bharatiya Divas (PBD) is an annual event that is celebrated in India to mark the contributions of the overseas Indian community to the development of India. The day is observed on January 9th each year, to coincide with the return of Mahatma Gandhi from South Africa to India on that day in 1915.
The day is also marked by the presentation of the Pravasi Bharatiya Samman Awards, which are given to individuals who have made significant contributions to the promotion of India's interests abroad.
The event was first held in 2003 and is organized by the Ministry of External Affairs in collaboration with other government agencies and non-governmental organizations. It is held in a different city in India each year and features a range of activities, including cultural programs, exhibitions, and seminars.
The event also includes a conference, at which leaders from the overseas Indian community and the government of India discuss issues of concern to NRIs and discuss ways to strengthen the relationship between India and the global Indian community. The event is attended by a large number of NRIs from around the world, as well as government officials and other dignitaries from India and other countries.
Pravasi Bharatiya Divas (PBD) is an annual event that is celebrated in India to mark the contributions of the overseas Indian community to the development of India. The day is observed on January 9th each year, to coincide with the return of Mahatma Gandhi from South Africa to India on that day in 1915.
The day is also marked by the presentation of the Pravasi Bharatiya Samman Awards, which are given to individuals who have made significant contributions to the promotion of India's interests abroad.
The event was first held in 2003 and is organized by the Ministry of External Affairs in collaboration with other government agencies and non-governmental organizations. It is held in a different city in India each year and features a range of activities, including cultural programs, exhibitions, and seminars.
The event also includes a conference, at which leaders from the overseas Indian community and the government of India discuss issues of concern to NRIs and discuss ways to strengthen the relationship between India and the global Indian community. The event is attended by a large number of NRIs from around the world, as well as government officials and other dignitaries from India and other countries.
4. NRI Day 2023/ Pravasi Bharatiya Divas 2023 Theme:
The purpose of Pravasi Bharatiya Divas is to recognise the contribution of the overseas Indian population to the development of India. The NRI Day is sponsored by several Indian government entities, including the Ministry of External Affairs, FICCI, the Ministry of Development of the North Eastern Region, and the Confederation of Indian Industries.
"Diaspora: Reliable Partners for India's Progress in Amrit Kaal," is the theme of the Pravasi Bharatiya Divas 2023 or NRI Day 2023. This theme emphasises the significance of the Indian diaspora in contributing to India's advancement. The Government of India selects a new theme for NRI Day each year.
The purpose of Pravasi Bharatiya Divas is to recognise the contribution of the overseas Indian population to the development of India. The NRI Day is sponsored by several Indian government entities, including the Ministry of External Affairs, FICCI, the Ministry of Development of the North Eastern Region, and the Confederation of Indian Industries.
"Diaspora: Reliable Partners for India's Progress in Amrit Kaal," is the theme of the Pravasi Bharatiya Divas 2023 or NRI Day 2023. This theme emphasises the significance of the Indian diaspora in contributing to India's advancement. The Government of India selects a new theme for NRI Day each year.
5. Top 5 NRI Who Made India Proud:
Lakshmi Mittal: The Steel Kingpin, Lakshmi Niwas Mittal. Lakshmi Mittal, born 15 June 1950, is a steel billionaire from India who now lives in the United Kingdom. He serves as the Executive Chairman of ArcelorMittal, the world's second largest steelmaker, as well as the Chairman of Aperam, a stainless-steel manufacturer. Mittal owns 38% of ArcelorMittal and a 3% ownership in Queens Park Rangers, who play in the EFL Championship. Lakshmi Mittal was born in Sadulpur, Rajasthan, into a Rajasthani Marwari family. His wife is Usha Kalra. Aditya Mittal is their son, while Vanisha Mittal is their daughter. The Indian government awarded Padma Vibhushan to Lakshmi Mittal in 2008. In 2008, Lakshmi Mittal was also awarded the Forbes Lifetime Achievement Award.
Vinod Khosla: Forbes Magazine lists Khosla as a millionaire. He is one of the co-founders of Sun Microsystems, which pioneered the Java programming language and Network File System. Khosla Ventures was later founded by him. He was born in Delhi and went to the Indian Institute of Technology. He was instrumental in the formation of Daisy Systems and TiE. He has also been an active investor in environmental start-ups. Khosla has invested over $450 million of his personal wealth to different "green" efforts such as ethanol plants, solar-power parks, and so on. His green investing has made him extremely prominent in the global media.
Manu Prakash: Manu was born in Meerut, Uttar Pradesh, and earned a B.Tech in computer science and engineering at the Indian Institute of Technology in Kanpur before travelling to the United States for his master's and doctorate. Currently Manu, an assistant professor of bioengineering at Stanford University, is well-known for his innovative innovations. The inventions include The Foldscope, a foldable microscope that is simple to operate and fold from a single sheet of A4 paper! This microscope costs only 50 cents (or Rs. 30). He also just invented a water-powered computer. He designed a clock that is required in a computer using the unique Physics of moving water droplets.
Pranav Mistry: This 33-year-old computer scientist and inventor from Palanpur, Gujarat, is the Vice President of Research at Samsung and the leader of the Think Tank Team. Wearable computing, augmented reality, ubiquitous computing, gestural interface, AI, machine vision, collective intelligence, and robotics have all benefited from his contributions. He was also named a World Economic Forum Young Global Leader in 2013. His ground-breaking 'SixthSense' technology earned him international fame. SixthSense is a gadget with both a data projector and a camera that reads human movements.
Lakshmi Pratury: This powerful woman co-hosted TEDIndia 2009, was the host and organiser of The INK Conference, and was the creator of Ixoraa Media. She aspires to strengthen India-America relations through business, cultural, and media events. In 2010, Forbes Asia named her one of the "100 Most Powerful Women" in Asia. She was also a significant figure in the American India Foundation, an organisation that raised more than $30 million in five years for development projects in India.
6. How Many Plenary Sessions of 17th Pravasi Bharatiya Divas (PBD) 2023 will be held:
The 17th Pravasi Bharatiya Divas Convention 2023 will include five Plenary Sessions on the following themes:
Plenary Session I: Role of Diaspora Youth in Innovation and New Technologies. This Plenary session will be held on January 8, 2023.
Plenary Session II: Role of Indian Diaspora in promoting Indian Healthcare Eco-system in Amrit Kaal: Vision @2047. This Plenary session will be held on January 9, 2023.
Plenary Session III: Leveraging the Soft Power of India- Goodwill through Craft, Cuisine & Creativity. This Plenary session will be held on January 9, 2023.
Plenary Session IV: Enabling global mobility of Indian workforce – Role of Indian Diaspora. This Plenary session will be held on January 10, 2023.
Plenary Session V: Harnessing the potential of women diaspora entrepreneurs towards an inclusive approach to nation building. This Plenary session will be held on January 10, 2023.
The 17th Pravasi Bharatiya Divas Convention 2023 will include five Plenary Sessions on the following themes:
Plenary Session I: Role of Diaspora Youth in Innovation and New Technologies. This Plenary session will be held on January 8, 2023.
Plenary Session II: Role of Indian Diaspora in promoting Indian Healthcare Eco-system in Amrit Kaal: Vision @2047. This Plenary session will be held on January 9, 2023.
Plenary Session III: Leveraging the Soft Power of India- Goodwill through Craft, Cuisine & Creativity. This Plenary session will be held on January 9, 2023.
Plenary Session IV: Enabling global mobility of Indian workforce – Role of Indian Diaspora. This Plenary session will be held on January 10, 2023.
Plenary Session V: Harnessing the potential of women diaspora entrepreneurs towards an inclusive approach to nation building. This Plenary session will be held on January 10, 2023.
7. How Can Non-Resident Indians (NRI), Contribute to the Growth of the Indian Economy?
Non-Resident Indians (NRIs) can play a significant role in the Indian economy through various means. Here are a few ways in which NRIs can contribute to the Indian economy:
Remittances: NRIs send money back to their families in India, which can contribute to the country's foreign exchange reserves.
Investment: NRIs can invest in various sectors of the Indian economy, such as real estate, stocks, and bonds, which can provide a boost to the economy.
Tourism: NRIs visiting India can contribute to the country's tourism industry, which can have a positive impact on the economy.
Trade: NRIs can help facilitate trade between India and the country in which they reside, which can lead to increased economic activity.
Job Creation: NRIs can start businesses in India, which can create job opportunities for local citizens.
Overall, NRIs can contribute to the Indian economy through the transfer of financial resources, investment, and by driving economic activity through trade and tourism.
Non-Resident Indians (NRIs) can play a significant role in the Indian economy through various means. Here are a few ways in which NRIs can contribute to the Indian economy:
Remittances: NRIs send money back to their families in India, which can contribute to the country's foreign exchange reserves.
Investment: NRIs can invest in various sectors of the Indian economy, such as real estate, stocks, and bonds, which can provide a boost to the economy.
Tourism: NRIs visiting India can contribute to the country's tourism industry, which can have a positive impact on the economy.
Trade: NRIs can help facilitate trade between India and the country in which they reside, which can lead to increased economic activity.
Job Creation: NRIs can start businesses in India, which can create job opportunities for local citizens.
Overall, NRIs can contribute to the Indian economy through the transfer of financial resources, investment, and by driving economic activity through trade and tourism.
8. What are the Investment Schemes Launched for NRIs by the Government of India?
The Government of India has launched various investment schemes for Non-Resident Indians (NRIs) to encourage them to invest in India and contribute to the country's economic development. These schemes offer various benefits and opportunities for NRIs to invest in the Indian market and earn lucrative returns. Some of the popular investment schemes launched by the Government of India for NRIs are discussed below.
External (NRE) Account:This is a type of rupee-denominated account that allows NRIs to deposit their foreign income in India. The deposited amount is fully repatriable, which means NRIs can transfer the funds back to their foreign account anytime. NRE accounts can be opened in the form of savings, current, or fixed deposit accounts. NRIs can earn tax-free interest on their NRE deposits, which makes them an attractive investment option.
Non-Resident Ordinary (NRO) Account:This is a type of rupee-denominated account that allows NRIs to manage their income earned in India. The deposited amount in an NRO account is not fully repatriable, and NRIs can transfer only a certain amount of the funds back to their foreign account. NRIs can earn tax-free interest on their NRO deposits, but the income earned from other sources, such as rent, dividends, etc., is subject to Indian tax laws.
Public Provident Fund (PPF):This is a long-term investment scheme offered by the Government of India that allows NRIs to invest a certain amount of their income every year in a tax-free savings account. The invested amount earns a fixed rate of interest, and NRIs can withdraw the funds after a certain period of time. PPF is a safe and secure investment option that provides a regular stream of income to NRIs.
National Pension System (NPS):This is a long-term investment scheme offered by the Government of India that allows NRIs to invest a certain amount of their income every year in a pension account. The invested amount earns a fixed rate of interest, and NRIs can withdraw the funds after a certain period of time. NPS is a good investment option for NRIs who are planning for their retirement.
Mutual Funds:This is an investment scheme that allows NRIs to invest in a diversified portfolio of securities, such as stocks, bonds, and other assets. NRIs can invest in mutual funds through banks, brokers, or online platforms. Mutual funds offer various benefits, such as professional management, diversification, and liquidity, which make them an attractive investment option for NRIs.
In conclusion, the Government of India has launched various investment schemes for NRIs to encourage them to invest in India and contribute to the country's economic development. NRIs can choose from a wide range of investment options, such as NRE and NRO accounts, PPF, NPS, and mutual funds, depending on their financial goals and risk appetite. These investment schemes offer various benefits and opportunities for NRIs to earn lucrative returns on their investments.
The Government of India has launched various investment schemes for Non-Resident Indians (NRIs) to encourage them to invest in India and contribute to the country's economic development. These schemes offer various benefits and opportunities for NRIs to invest in the Indian market and earn lucrative returns. Some of the popular investment schemes launched by the Government of India for NRIs are discussed below.
External (NRE) Account:This is a type of rupee-denominated account that allows NRIs to deposit their foreign income in India. The deposited amount is fully repatriable, which means NRIs can transfer the funds back to their foreign account anytime. NRE accounts can be opened in the form of savings, current, or fixed deposit accounts. NRIs can earn tax-free interest on their NRE deposits, which makes them an attractive investment option.
Non-Resident Ordinary (NRO) Account:This is a type of rupee-denominated account that allows NRIs to manage their income earned in India. The deposited amount in an NRO account is not fully repatriable, and NRIs can transfer only a certain amount of the funds back to their foreign account. NRIs can earn tax-free interest on their NRO deposits, but the income earned from other sources, such as rent, dividends, etc., is subject to Indian tax laws.
Public Provident Fund (PPF):This is a long-term investment scheme offered by the Government of India that allows NRIs to invest a certain amount of their income every year in a tax-free savings account. The invested amount earns a fixed rate of interest, and NRIs can withdraw the funds after a certain period of time. PPF is a safe and secure investment option that provides a regular stream of income to NRIs.
National Pension System (NPS):This is a long-term investment scheme offered by the Government of India that allows NRIs to invest a certain amount of their income every year in a pension account. The invested amount earns a fixed rate of interest, and NRIs can withdraw the funds after a certain period of time. NPS is a good investment option for NRIs who are planning for their retirement.
Mutual Funds:This is an investment scheme that allows NRIs to invest in a diversified portfolio of securities, such as stocks, bonds, and other assets. NRIs can invest in mutual funds through banks, brokers, or online platforms. Mutual funds offer various benefits, such as professional management, diversification, and liquidity, which make them an attractive investment option for NRIs.
In conclusion, the Government of India has launched various investment schemes for NRIs to encourage them to invest in India and contribute to the country's economic development. NRIs can choose from a wide range of investment options, such as NRE and NRO accounts, PPF, NPS, and mutual funds, depending on their financial goals and risk appetite. These investment schemes offer various benefits and opportunities for NRIs to earn lucrative returns on their investments.
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