Indo-Saudi relation has witnessed upswing during past few decades, reinforcing economic and socio-cultural ties. Beside trade, investment and cultural ties, India enjoys a very special kind of relation with the strongest economy of the Gulf region. Currently, around 3 million plus strong Indian community are living and working in the Saudi Arabia, which is the largest expatriate community in the Kingdom, contributing around 30 per cent of the total expatriates of KSA. In last 10 years (barring 2016), India succeeded in deploying around 7.50 lakh Indian blue collar workers in GCC countries, out of them roughly 3 lakh arrived in KSA. So, there was a considerable growth in the outflow of Indian workers to the region. However, with the emergence of some new phenomena on the India’s side of policy makers since 2014, there has been a constant decline in the outflow of Indian blue collar workers, resulting nearly 50 percent downfall in last two years. This study strived to discover the causes of decline in India’s share of migrants’ employment in the Gulf nations in general and in KSA in particular, while bringing some very striking facts and figures that how this decline did not resemble in other countries which also send workers to the Gulf. Alongside this, the study also explored how and why foreign employers (FEs) were compelled not to hire workers from India but from Pakistan and Bangladesh. The result of the study demonstrated that when we observe India, Pakistan, and Bangladesh together in terms of their share of blue collar workers in KSA, we find that till 2014, India’s share in the oil-rich Saudi Arabia was on average 50 percent, for Pakistan it was 48 percent and for Bangladesh it was merely 2 percent. But, in 2016, within a period of 2 years, India’s share shockingly slumped down to 21 percent, while Pakistan and Bangladesh unexpectedly rose up to 60 and 19 percent respectively. Furthermore, this is not only in the case of Saudi Arabia. If we go country by country, we will find the same situation in almost whole Gulf region. In the end, the study suggests how the serious situation has surfaced on the fate of Indian migrant workers, and tries to fetch the government’s attention to take cognizance of this issue and act swiftly to resolve it as soon as possible for avoiding further downfall of Indian workers in oil-rich Gulf nations.
The research is based on an analytical and investigative study of the data available on websites of India, Pakistan and Bangladesh, which deal with overseas employment’s regulation and statistics. Moreover, to illustrate the argument with more clarity, a number of tables and charts have been drawn with lots of interesting figures.
How india’s recent emigration policies helped bangladesh and pakistan eat int...Asif Nawaz
Indo-Saudi relation has witnessed upswing during past few decades, reinforcing economic and socio-cultural ties. Beside trade, investment and cultural ties, India enjoys a very special kind of relation with the strongest economy of the Gulf region. Currently, around 3 million plus strong Indian community are living and working in the Saudi Arabia, which is the largest expatriate community in the Kingdom, contributing around 30 per cent of the total expatriates of KSA. In last 10 years (barring 2016), India succeeded in deploying around 7.50 lakh Indian blue collar workers in GCC countries, out of them roughly 3 lakh arrived in KSA. So, there was a considerable growth in the outflow of Indian workers to the region. However, with the emergence of some new phenomena on the India’s side of policy makers since 2014, there has been a constant decline in the outflow of Indian blue collar workers, resulting nearly 50 percent downfall in last two years. This study strived to discover the causes of decline in India’s share of migrants’ employment in the Gulf nations in general and in KSA in particular, while bringing some very striking facts and figures that how this decline did not resemble in other countries which also send workers to the Gulf. Alongside this, the study also explored how and why foreign employers (FEs) were compelled not to hire workers from India but from Pakistan and Bangladesh. The result of the study demonstrated that when we observe India, Pakistan, and Bangladesh together in terms of their share of blue collar workers in KSA, we find that till 2014, India’s share in the oil-rich Saudi Arabia was on average 50 percent, for Pakistan it was 48 percent and for Bangladesh it was merely 2 percent. But, in 2016, within a period of 2 years, India’s share shockingly slumped down to 21 percent, while Pakistan and Bangladesh unexpectedly rose up to 60 and 19 percent respectively. Furthermore, this is not only in the case of Saudi Arabia. If we go country by country, we will find the same situation in almost whole Gulf region. In the end, the study suggests how the serious situation has surfaced on the fate of Indian migrant workers, and tries to fetch the government’s attention to take cognizance of this issue and act swiftly to resolve it as soon as possible for avoiding further downfall of Indian workers in oil-rich Gulf nations.
The research is based on an analytical and investigative study of the data available on websites of India, Pakistan and Bangladesh, which deal with overseas employment’s regulation and statistics. Moreover, to illustrate the argument with more clarity, a number of tables and charts have been drawn with lots of interesting figures.
The document summarizes the current state of Bangladesh's economy, prospects for future growth, and challenges. It notes that Bangladesh has experienced steady GDP growth of around 6% annually in recent years. While the economy faces infrastructure and political stability challenges, it also has a young workforce, growing exports, and opportunities in sectors like pharmaceuticals and shipbuilding. The document argues that Bangladesh has the potential to become a middle income country by 2021 and one of the 30 largest economies by 2030 if it addresses challenges through public-private partnerships and other solutions.
India is rapidly emerging as a key destination for foreign investment. Both foreign direct investment (FDI) and foreign portfolio investment (FPI) have seen robust growth.
FDI reached an all time high of US$ 56B in 2015-16, 6x more than the figure a decade ago.
Mauritius and Singapore are top FDI investors in India; this is due to tax regime. India has double tax avoidance treaties, and lower local tax rates in those countries mean that investors are routing FDI through them. Also, several investors prefer Singapore as a legal jurisdiction as well.
India has become an important destination for inbound FDI in a global context. In 2015, for ex, it was the seventh meaningful nation, behind the likes of USA, China, Brazil, Canada, UK and Germany. We are ignoring some of the other nations higher up on the list, like Ireland, Hong Kong, Switzerland etc, since these are routing destinations.
The report gives overview of trend in FDI, and the governing regime for FDI in India, including sectoral caps, procedure for setting up a company in India and so on.
Export & import between Bangladesh & IndiaTorun Datta
This document discusses trends in trade between India and Bangladesh from 2012-2013. It finds that while both countries have faced trade deficits, India's deficit is larger due to higher inflation and economic issues. The document analyzes export and import data and finds that while Bangladesh has been able to balance its trade, India's imports have increased more than its exports. However, the depreciation of the Indian rupee has made Indian exports more competitive. The document suggests both countries should cooperate to promote bilateral trade and consider India's northeast states as an opportunity for Bangladeshi access to Indian markets.
Kingston Smith Asia Pacific Conference Mumbai 25 May 2010Bhuta Shah & Co.
This is the keynote presentation at the Kingston Smith Asia Pacific Conference held on 25 May 2010 at J.W. Mariott Mumbai by Shailesh Bhuta Founder and Managing Partner of Bhuta Shah & Co.
In Bangladesh, migrant worker’s remittances constitute one of the most significant sources of external finance. This paper investigates the existence of relation between remittance inflow and GDP and the causal link between them in Bangladesh by employing the Granger causality test under a VECM framework. Using time series data over a 38 year period, we found that growth in remittances does lead to economic growth in Bangladesh. In addition to the relationship, this paper also points out some issues that are working as impediments in getting remittance and give some recommendations to overcome those impediments.
Bilateral and international trade of bangladesh and indiaAlexander Decker
This document summarizes a research paper on the effect of the falling exchange rate of the Indian rupee on bilateral and international trade between Bangladesh and India. It provides background on the currencies used in Bangladesh and India, and examines trade data between the two countries. The key findings are that Bangladesh generally runs a trade deficit with imports exceeding exports. A falling Indian rupee could negatively impact Bangladesh's exports to India and increase its imports from India, worsening its trade balance. The document analyzes trade and currency data to understand how exchange rate fluctuations influence trade between the neighboring countries.
how to make India self reliant in textile industryJAY BHANSALI
how to make idnia self reliant in textile industry in exports of textile goode and some measures if u want t odownload mail me ur email id and i will sent u the ppt
How india’s recent emigration policies helped bangladesh and pakistan eat int...Asif Nawaz
Indo-Saudi relation has witnessed upswing during past few decades, reinforcing economic and socio-cultural ties. Beside trade, investment and cultural ties, India enjoys a very special kind of relation with the strongest economy of the Gulf region. Currently, around 3 million plus strong Indian community are living and working in the Saudi Arabia, which is the largest expatriate community in the Kingdom, contributing around 30 per cent of the total expatriates of KSA. In last 10 years (barring 2016), India succeeded in deploying around 7.50 lakh Indian blue collar workers in GCC countries, out of them roughly 3 lakh arrived in KSA. So, there was a considerable growth in the outflow of Indian workers to the region. However, with the emergence of some new phenomena on the India’s side of policy makers since 2014, there has been a constant decline in the outflow of Indian blue collar workers, resulting nearly 50 percent downfall in last two years. This study strived to discover the causes of decline in India’s share of migrants’ employment in the Gulf nations in general and in KSA in particular, while bringing some very striking facts and figures that how this decline did not resemble in other countries which also send workers to the Gulf. Alongside this, the study also explored how and why foreign employers (FEs) were compelled not to hire workers from India but from Pakistan and Bangladesh. The result of the study demonstrated that when we observe India, Pakistan, and Bangladesh together in terms of their share of blue collar workers in KSA, we find that till 2014, India’s share in the oil-rich Saudi Arabia was on average 50 percent, for Pakistan it was 48 percent and for Bangladesh it was merely 2 percent. But, in 2016, within a period of 2 years, India’s share shockingly slumped down to 21 percent, while Pakistan and Bangladesh unexpectedly rose up to 60 and 19 percent respectively. Furthermore, this is not only in the case of Saudi Arabia. If we go country by country, we will find the same situation in almost whole Gulf region. In the end, the study suggests how the serious situation has surfaced on the fate of Indian migrant workers, and tries to fetch the government’s attention to take cognizance of this issue and act swiftly to resolve it as soon as possible for avoiding further downfall of Indian workers in oil-rich Gulf nations.
The research is based on an analytical and investigative study of the data available on websites of India, Pakistan and Bangladesh, which deal with overseas employment’s regulation and statistics. Moreover, to illustrate the argument with more clarity, a number of tables and charts have been drawn with lots of interesting figures.
The document summarizes the current state of Bangladesh's economy, prospects for future growth, and challenges. It notes that Bangladesh has experienced steady GDP growth of around 6% annually in recent years. While the economy faces infrastructure and political stability challenges, it also has a young workforce, growing exports, and opportunities in sectors like pharmaceuticals and shipbuilding. The document argues that Bangladesh has the potential to become a middle income country by 2021 and one of the 30 largest economies by 2030 if it addresses challenges through public-private partnerships and other solutions.
India is rapidly emerging as a key destination for foreign investment. Both foreign direct investment (FDI) and foreign portfolio investment (FPI) have seen robust growth.
FDI reached an all time high of US$ 56B in 2015-16, 6x more than the figure a decade ago.
Mauritius and Singapore are top FDI investors in India; this is due to tax regime. India has double tax avoidance treaties, and lower local tax rates in those countries mean that investors are routing FDI through them. Also, several investors prefer Singapore as a legal jurisdiction as well.
India has become an important destination for inbound FDI in a global context. In 2015, for ex, it was the seventh meaningful nation, behind the likes of USA, China, Brazil, Canada, UK and Germany. We are ignoring some of the other nations higher up on the list, like Ireland, Hong Kong, Switzerland etc, since these are routing destinations.
The report gives overview of trend in FDI, and the governing regime for FDI in India, including sectoral caps, procedure for setting up a company in India and so on.
Export & import between Bangladesh & IndiaTorun Datta
This document discusses trends in trade between India and Bangladesh from 2012-2013. It finds that while both countries have faced trade deficits, India's deficit is larger due to higher inflation and economic issues. The document analyzes export and import data and finds that while Bangladesh has been able to balance its trade, India's imports have increased more than its exports. However, the depreciation of the Indian rupee has made Indian exports more competitive. The document suggests both countries should cooperate to promote bilateral trade and consider India's northeast states as an opportunity for Bangladeshi access to Indian markets.
Kingston Smith Asia Pacific Conference Mumbai 25 May 2010Bhuta Shah & Co.
This is the keynote presentation at the Kingston Smith Asia Pacific Conference held on 25 May 2010 at J.W. Mariott Mumbai by Shailesh Bhuta Founder and Managing Partner of Bhuta Shah & Co.
In Bangladesh, migrant worker’s remittances constitute one of the most significant sources of external finance. This paper investigates the existence of relation between remittance inflow and GDP and the causal link between them in Bangladesh by employing the Granger causality test under a VECM framework. Using time series data over a 38 year period, we found that growth in remittances does lead to economic growth in Bangladesh. In addition to the relationship, this paper also points out some issues that are working as impediments in getting remittance and give some recommendations to overcome those impediments.
Bilateral and international trade of bangladesh and indiaAlexander Decker
This document summarizes a research paper on the effect of the falling exchange rate of the Indian rupee on bilateral and international trade between Bangladesh and India. It provides background on the currencies used in Bangladesh and India, and examines trade data between the two countries. The key findings are that Bangladesh generally runs a trade deficit with imports exceeding exports. A falling Indian rupee could negatively impact Bangladesh's exports to India and increase its imports from India, worsening its trade balance. The document analyzes trade and currency data to understand how exchange rate fluctuations influence trade between the neighboring countries.
how to make India self reliant in textile industryJAY BHANSALI
how to make idnia self reliant in textile industry in exports of textile goode and some measures if u want t odownload mail me ur email id and i will sent u the ppt
This document summarizes the key highlights from a bi-monthly journal on India-Gulf and MEWANA bilateral ties. It discusses growing economic and trade relationships between India and countries in the Gulf and MEWANA regions like the UAE, Qatar, Bahrain, and Oman. It also previews upcoming bilateral exhibitions and conferences between India and some of these countries. The primary topics covered include increasing bilateral trade volumes, new investment partnerships and opportunities, and efforts to strengthen economic cooperation between India and its partners in the Gulf and MEWANA regions.
This reports gives reader an overview of India steel industry. It will explain India position from world prospective, its working and dominant players.
The document is a newsletter providing an economic and industrial overview of India in January 2013. It contains the following key points:
1. The Indian economy is projected to grow at 6.8% in 2013, rebounding from 5.5% growth in 2012, driven by government reforms and an improving policy environment.
2. Foreign investment in India is expected to increase in 2013, with private capital flows to emerging markets like India projected to rise 3.5% to $1.11 trillion, and FDI inflows to India lifted by the opening of new sectors.
3. The steel industry overview notes that India retained its position as the 4th largest steel producer worldwide in 2012, with output of 76
Pakistan and India have large economies and share a common border and history, but trade between the two countries makes up only 20% of regional trade due to political tensions and a lack of integration. Liberalizing trade could increase formal trade between $2.25 billion to $30.4 billion and benefit both countries through new jobs, tax revenue, and access to imports. However, some industries may face more competition from imports. Overall, normalized trade that reduces informal trade and smuggling could significantly benefit both Pakistan and India through increased economic opportunities.
ICICI Prudential Housing Opportunities Fund - Brochureiciciprumf
Give your portfolio the keys to success by investing in the growing housing theme. The ICICI Prudential Housing Opportunities Fund allows you to potentially build wealth as the housing sector continues to grow. Hurry! NFO closes on April 11, 2022. Click on the link to know more: https://bit.ly/3tPVTvH
ICICI Prudential Housing Opportunities Fund - Investor PPTiciciprumf
Include a potential rise in your portfolio as the housing theme rises too. The door is open to invest in India’s booming housing sector with the ICICI Prudential Housing Opportunities Fund. NFO closes April 11, 2022.
Click on the link to know more:
https://bit.ly/3tPVTvH
The document provides an export plan for DBL Group, a diversified Bangladeshi conglomerate. It outlines DBL's history, vision, products including knitting and apparel manufacturing. It discusses DBL's resources, the apparel industry structure, competition, costs, demand, marketing strategy, product selection, distribution methods, internal organization, export budget, and implementation schedule. DBL aims to export knit garments to global markets like Europe, USA and Canada, leveraging Bangladesh's low costs and position as a top apparel exporter.
India-UAE Investment Relations Under Modi GovernmentZakir Hussain
1) India's Foreign Minister visited the UAE to attract investment by showcasing India's new investment policies under its "Make in India" program and establish a partnership for growth rather than just offering India as a market.
2) While trade between India and the UAE has grown significantly in recent years, it is reaching its limit, so investment provides greater potential for deeper economic cooperation.
3) Both countries need to explore opportunities to deepen investment ties in sectors like infrastructure, renewable energy, and others where India needs capital and UAE investors can benefit from India's growth. Reforms to attract Islamic finance could also boost investment from the UAE.
CII has strong links with key economic partners of India across the globe. This past month, CII delegations traveled to Russia, Germany, Switzerland, the UK, Japan, and South Korea, to engage with leading decision-makers of influential countries and organizations to forge solutions to drive the country’s growth, sustainability and stability agenda. Our cover story highlights the keenness of Indian industry to explore overseas markets for both trade and investment, and integrate itself into the dynamic global value chain.
This document provides a summary of the 4th annual India Wealth Report by Karvy Private Wealth.
The key points are:
1) Total individual wealth in India as of FY2013 is Rs. 201.92 lakh crore, with 54.4% held in financial assets and 45.6% in physical assets like gold and real estate.
2) Within financial assets, the largest portions are held in fixed deposits/bonds (23%) and direct equity (22.1%). Gold makes up the majority (65.84%) of physical wealth.
3) Global individual wealth grew 7.8% in 2012 to US$135.5 trillion, led by growth in North
India's financial services sector has experienced robust growth in recent years. Assets under management by the mutual fund industry have more than doubled since FY07 to over US$ 325 billion as of September 2017. Corporate investors account for the largest share of mutual fund assets at around 47%, followed by high net worth individuals and retail investors. The number of listed companies on Indian stock exchanges has increased significantly over the past decade, and the amount raised through initial public offerings has grown substantially in recent years, indicating a vibrant capital market. India is also emerging as a key market for wealth management, as the number of high net worth individuals in the country is projected to double by 2020.
The document summarizes India's trade relations with the United Arab Emirates (UAE). It provides background information on the UAE and outlines the strong bilateral economic and political relationship between the two countries. Key aspects of the relationship include India being one of the UAE's largest trading partners, major Indian investments and business presence in the UAE, cooperation on defense matters, and plans to strengthen collaboration further in areas like energy, infrastructure, education and regional security. The relationship is described as traditionally warm, friendly and based on continuity without any major irritants.
India's financial services sector has grown significantly in recent years and is poised for further expansion. Assets under management by the mutual fund industry have more than doubled since 2007. The life and non-life insurance segments have also grown substantially, with the life insurance market increasing from $10 billion in 2002 to $56.05 billion in 2016. Wealth management is an emerging segment in India as the number of high net worth individuals is rising steadily. Overall, various segments of the financial services industry are benefiting from rising incomes, a push for financial inclusion, and growing investor participation.
This document provides a weekly media update with news related to Balmer Lawrie and other public sector enterprises (PSEs) in India. It includes articles discussing the Indian economy's growth amid global economic turmoil, the government's plans to continue economic reforms and divest stakes in sick PSEs, updates on steel and lubricant markets, and declines in India's factory output and domestic steel production despite rising consumption. The document also reports on meetings to discuss fast-tracking exports and relaxing norms for startup MSMEs to enable their participation in public procurement.
This document discusses opportunities for New Zealand business in India. It notes that India has experienced high economic growth rates in recent years and is becoming an increasingly important market. Key opportunities for New Zealand businesses include:
1) India offers a huge consumer market as its middle class grows and incomes rise. Several New Zealand companies have found success selling to Indian consumers.
2) India provides opportunities to lower costs through outsourcing services or using India as a base for frugal engineering.
3) India's skilled workforce and sectors like IT provide specialist resources and capabilities that can augment New Zealand businesses.
The document analyzes opportunities in several sectors like IT, biotech, food processing, and infrastructure. It suggests
1) South Africa and India aim to increase bilateral trade to $15 billion by 2014. South Africa is interested in attracting more Indian investment.
2) A survey found that Asian refiners will reduce imports of West African crude oil in September due to low demand.
3) India and China have agreed to a five-year economic cooperation plan and will establish a joint working group to address trade issues.
This document provides an overview of India as an economic market. It discusses India's history, economy, trade, foreign investment, major cities, and key industries. Some key facts presented include India's large population and fast economic growth rate, its status as a top destination for foreign investment, and the large presence of multinational companies operating across various industries in India. The document also highlights positive international perceptions of India's potential for continued economic development.
- India is a 5,000 year old civilization with a diverse population of over 1 billion people and a rapidly growing economy. It has transitioned to a free market economy since the 1990s and has experienced strong GDP growth.
- India receives large amounts of foreign investment and trade. Major sectors of the economy include IT, pharmaceuticals, automobiles, and services. Indian companies have also been acquiring assets abroad in recent years.
- The document provides an overview of India's economy, trade, foreign investment trends, major cities, and key industries to introduce India as an attractive market for business.
This document provides an overview of India as an economic market. It discusses India's history, economy, trade, foreign investment, major cities, and key industries. Some key facts presented include India's large population and fast economic growth rate, its status as a top destination for foreign investment, and the large presence of multinational companies operating across various industries in India. The document also highlights positive international perceptions of India's potential for continued economic development.
Investment Opportunities in BD Tourism IndustryMD Saiful Islam
Bangladesh has significant potential for growth in its tourism and hospitality industry. The country has a population of over 170 million and its economy has been growing at around 6% annually. Recent investments in infrastructure such as the Padma Bridge and Dhaka Metro Rail will further support the development of the tourism sector. The number of hotels and airlines in Bangladesh have increased substantially over the last decade. Foreign direct investment in tourism continues to rise as well, reaching $1.64 billion in the last fiscal year, indicating investor confidence in Bangladesh's economic growth and stabilization of its political situation. If current trends continue, Bangladesh's tourism industry is forecasted to contribute substantially to GDP, employment, and foreign currency earnings in the coming years.
Dynamics of Migration and Role of Remittance for Sustainable Development in S...Asif Nawaz
The current human mobility in the world is higher than ever before in the modern history. Almost all of the approximately 200 nations in the world are either countries of origin, or destination for the migrants. As per the data of United Nations’ Department of Economic and Social Affairs (UN DESA), the overall number of international migrants reached 244 million in 2015. This constitutes 3.3 % of world population, in other words, one out of every 30 persons in the world is currently a migrant who lives out of his/her home country. However, the South Asian countries have the biggest share in the global migration activity. According to the United Nations Population Division, till 2015 this region has exported 37 million emigrants around the world which is 15.11% of the overall number of international migrants. Among these South Asian countries, there are five major South Asia labor-sending nations which deploy on average over 2.5 million migrants as the data of last five years shows. Due to this influx of workers, the region also has emerged as the largest receiver of remittances. Worldwide, an estimated 582 billion U.S. dollars was sent by migrants to relatives in their home countries in 2015. Out of it, 118 billion received by this region from its emigrants around the world, which accounts 20.25% of global remittance. So, this region is increasingly becoming a remittance economy, and over last decade, it has been continuously on rise.
This paper studies dynamics of expatriation and the role of remittance sent to the South Asian countries, mainly to India which has the biggest number of migrant workers in the all corners of the globe, that gives a handsome amount of remittance as a source of funds for economic development. despite its huge potential to contribute to economic growth, India has not yet fully maximized benefits from remittances. Furthermore, the study also discusses how and why India’s share of migrant labors is on a downfall trend since 2014. This study strives to discover the causes of this decline in India’s share of employment in the Gulf. Alongside this, the study also explored how and why foreign employers (FEs) in the Gulf were compelled not to hire workers from India but from Pakistan and Bangladesh in last two years. In the end, the study suggests how the serious situation has surfaced on the fate of Indian migrant workers, and tries to fetch the government’s attention to take cognizance of this issue and act swiftly to resolve it for avoiding further downfall of Indian workers in oil-rich Gulf nations.
This document summarizes the key highlights from a bi-monthly journal on India-Gulf and MEWANA bilateral ties. It discusses growing economic and trade relationships between India and countries in the Gulf and MEWANA regions like the UAE, Qatar, Bahrain, and Oman. It also previews upcoming bilateral exhibitions and conferences between India and some of these countries. The primary topics covered include increasing bilateral trade volumes, new investment partnerships and opportunities, and efforts to strengthen economic cooperation between India and its partners in the Gulf and MEWANA regions.
This reports gives reader an overview of India steel industry. It will explain India position from world prospective, its working and dominant players.
The document is a newsletter providing an economic and industrial overview of India in January 2013. It contains the following key points:
1. The Indian economy is projected to grow at 6.8% in 2013, rebounding from 5.5% growth in 2012, driven by government reforms and an improving policy environment.
2. Foreign investment in India is expected to increase in 2013, with private capital flows to emerging markets like India projected to rise 3.5% to $1.11 trillion, and FDI inflows to India lifted by the opening of new sectors.
3. The steel industry overview notes that India retained its position as the 4th largest steel producer worldwide in 2012, with output of 76
Pakistan and India have large economies and share a common border and history, but trade between the two countries makes up only 20% of regional trade due to political tensions and a lack of integration. Liberalizing trade could increase formal trade between $2.25 billion to $30.4 billion and benefit both countries through new jobs, tax revenue, and access to imports. However, some industries may face more competition from imports. Overall, normalized trade that reduces informal trade and smuggling could significantly benefit both Pakistan and India through increased economic opportunities.
ICICI Prudential Housing Opportunities Fund - Brochureiciciprumf
Give your portfolio the keys to success by investing in the growing housing theme. The ICICI Prudential Housing Opportunities Fund allows you to potentially build wealth as the housing sector continues to grow. Hurry! NFO closes on April 11, 2022. Click on the link to know more: https://bit.ly/3tPVTvH
ICICI Prudential Housing Opportunities Fund - Investor PPTiciciprumf
Include a potential rise in your portfolio as the housing theme rises too. The door is open to invest in India’s booming housing sector with the ICICI Prudential Housing Opportunities Fund. NFO closes April 11, 2022.
Click on the link to know more:
https://bit.ly/3tPVTvH
The document provides an export plan for DBL Group, a diversified Bangladeshi conglomerate. It outlines DBL's history, vision, products including knitting and apparel manufacturing. It discusses DBL's resources, the apparel industry structure, competition, costs, demand, marketing strategy, product selection, distribution methods, internal organization, export budget, and implementation schedule. DBL aims to export knit garments to global markets like Europe, USA and Canada, leveraging Bangladesh's low costs and position as a top apparel exporter.
India-UAE Investment Relations Under Modi GovernmentZakir Hussain
1) India's Foreign Minister visited the UAE to attract investment by showcasing India's new investment policies under its "Make in India" program and establish a partnership for growth rather than just offering India as a market.
2) While trade between India and the UAE has grown significantly in recent years, it is reaching its limit, so investment provides greater potential for deeper economic cooperation.
3) Both countries need to explore opportunities to deepen investment ties in sectors like infrastructure, renewable energy, and others where India needs capital and UAE investors can benefit from India's growth. Reforms to attract Islamic finance could also boost investment from the UAE.
CII has strong links with key economic partners of India across the globe. This past month, CII delegations traveled to Russia, Germany, Switzerland, the UK, Japan, and South Korea, to engage with leading decision-makers of influential countries and organizations to forge solutions to drive the country’s growth, sustainability and stability agenda. Our cover story highlights the keenness of Indian industry to explore overseas markets for both trade and investment, and integrate itself into the dynamic global value chain.
This document provides a summary of the 4th annual India Wealth Report by Karvy Private Wealth.
The key points are:
1) Total individual wealth in India as of FY2013 is Rs. 201.92 lakh crore, with 54.4% held in financial assets and 45.6% in physical assets like gold and real estate.
2) Within financial assets, the largest portions are held in fixed deposits/bonds (23%) and direct equity (22.1%). Gold makes up the majority (65.84%) of physical wealth.
3) Global individual wealth grew 7.8% in 2012 to US$135.5 trillion, led by growth in North
India's financial services sector has experienced robust growth in recent years. Assets under management by the mutual fund industry have more than doubled since FY07 to over US$ 325 billion as of September 2017. Corporate investors account for the largest share of mutual fund assets at around 47%, followed by high net worth individuals and retail investors. The number of listed companies on Indian stock exchanges has increased significantly over the past decade, and the amount raised through initial public offerings has grown substantially in recent years, indicating a vibrant capital market. India is also emerging as a key market for wealth management, as the number of high net worth individuals in the country is projected to double by 2020.
The document summarizes India's trade relations with the United Arab Emirates (UAE). It provides background information on the UAE and outlines the strong bilateral economic and political relationship between the two countries. Key aspects of the relationship include India being one of the UAE's largest trading partners, major Indian investments and business presence in the UAE, cooperation on defense matters, and plans to strengthen collaboration further in areas like energy, infrastructure, education and regional security. The relationship is described as traditionally warm, friendly and based on continuity without any major irritants.
India's financial services sector has grown significantly in recent years and is poised for further expansion. Assets under management by the mutual fund industry have more than doubled since 2007. The life and non-life insurance segments have also grown substantially, with the life insurance market increasing from $10 billion in 2002 to $56.05 billion in 2016. Wealth management is an emerging segment in India as the number of high net worth individuals is rising steadily. Overall, various segments of the financial services industry are benefiting from rising incomes, a push for financial inclusion, and growing investor participation.
This document provides a weekly media update with news related to Balmer Lawrie and other public sector enterprises (PSEs) in India. It includes articles discussing the Indian economy's growth amid global economic turmoil, the government's plans to continue economic reforms and divest stakes in sick PSEs, updates on steel and lubricant markets, and declines in India's factory output and domestic steel production despite rising consumption. The document also reports on meetings to discuss fast-tracking exports and relaxing norms for startup MSMEs to enable their participation in public procurement.
This document discusses opportunities for New Zealand business in India. It notes that India has experienced high economic growth rates in recent years and is becoming an increasingly important market. Key opportunities for New Zealand businesses include:
1) India offers a huge consumer market as its middle class grows and incomes rise. Several New Zealand companies have found success selling to Indian consumers.
2) India provides opportunities to lower costs through outsourcing services or using India as a base for frugal engineering.
3) India's skilled workforce and sectors like IT provide specialist resources and capabilities that can augment New Zealand businesses.
The document analyzes opportunities in several sectors like IT, biotech, food processing, and infrastructure. It suggests
1) South Africa and India aim to increase bilateral trade to $15 billion by 2014. South Africa is interested in attracting more Indian investment.
2) A survey found that Asian refiners will reduce imports of West African crude oil in September due to low demand.
3) India and China have agreed to a five-year economic cooperation plan and will establish a joint working group to address trade issues.
This document provides an overview of India as an economic market. It discusses India's history, economy, trade, foreign investment, major cities, and key industries. Some key facts presented include India's large population and fast economic growth rate, its status as a top destination for foreign investment, and the large presence of multinational companies operating across various industries in India. The document also highlights positive international perceptions of India's potential for continued economic development.
- India is a 5,000 year old civilization with a diverse population of over 1 billion people and a rapidly growing economy. It has transitioned to a free market economy since the 1990s and has experienced strong GDP growth.
- India receives large amounts of foreign investment and trade. Major sectors of the economy include IT, pharmaceuticals, automobiles, and services. Indian companies have also been acquiring assets abroad in recent years.
- The document provides an overview of India's economy, trade, foreign investment trends, major cities, and key industries to introduce India as an attractive market for business.
This document provides an overview of India as an economic market. It discusses India's history, economy, trade, foreign investment, major cities, and key industries. Some key facts presented include India's large population and fast economic growth rate, its status as a top destination for foreign investment, and the large presence of multinational companies operating across various industries in India. The document also highlights positive international perceptions of India's potential for continued economic development.
Similar to Emerging Dismal Scenario in Indian Emigration System Leads to Precipitous Slump in India’s Employment Share in GCC Nations, especially in KSA
Investment Opportunities in BD Tourism IndustryMD Saiful Islam
Bangladesh has significant potential for growth in its tourism and hospitality industry. The country has a population of over 170 million and its economy has been growing at around 6% annually. Recent investments in infrastructure such as the Padma Bridge and Dhaka Metro Rail will further support the development of the tourism sector. The number of hotels and airlines in Bangladesh have increased substantially over the last decade. Foreign direct investment in tourism continues to rise as well, reaching $1.64 billion in the last fiscal year, indicating investor confidence in Bangladesh's economic growth and stabilization of its political situation. If current trends continue, Bangladesh's tourism industry is forecasted to contribute substantially to GDP, employment, and foreign currency earnings in the coming years.
Dynamics of Migration and Role of Remittance for Sustainable Development in S...Asif Nawaz
The current human mobility in the world is higher than ever before in the modern history. Almost all of the approximately 200 nations in the world are either countries of origin, or destination for the migrants. As per the data of United Nations’ Department of Economic and Social Affairs (UN DESA), the overall number of international migrants reached 244 million in 2015. This constitutes 3.3 % of world population, in other words, one out of every 30 persons in the world is currently a migrant who lives out of his/her home country. However, the South Asian countries have the biggest share in the global migration activity. According to the United Nations Population Division, till 2015 this region has exported 37 million emigrants around the world which is 15.11% of the overall number of international migrants. Among these South Asian countries, there are five major South Asia labor-sending nations which deploy on average over 2.5 million migrants as the data of last five years shows. Due to this influx of workers, the region also has emerged as the largest receiver of remittances. Worldwide, an estimated 582 billion U.S. dollars was sent by migrants to relatives in their home countries in 2015. Out of it, 118 billion received by this region from its emigrants around the world, which accounts 20.25% of global remittance. So, this region is increasingly becoming a remittance economy, and over last decade, it has been continuously on rise.
This paper studies dynamics of expatriation and the role of remittance sent to the South Asian countries, mainly to India which has the biggest number of migrant workers in the all corners of the globe, that gives a handsome amount of remittance as a source of funds for economic development. despite its huge potential to contribute to economic growth, India has not yet fully maximized benefits from remittances. Furthermore, the study also discusses how and why India’s share of migrant labors is on a downfall trend since 2014. This study strives to discover the causes of this decline in India’s share of employment in the Gulf. Alongside this, the study also explored how and why foreign employers (FEs) in the Gulf were compelled not to hire workers from India but from Pakistan and Bangladesh in last two years. In the end, the study suggests how the serious situation has surfaced on the fate of Indian migrant workers, and tries to fetch the government’s attention to take cognizance of this issue and act swiftly to resolve it for avoiding further downfall of Indian workers in oil-rich Gulf nations.
This document summarizes the investment climate and trends in Bangladesh. It finds that while investment levels and GDP growth have been increasing, investment levels remain below what is needed to achieve the country's targets of 8-10% GDP growth by 2021. Local investment is growing but not enough, and foreign direct investment has fluctuated with reinvested profits making up more of total FDI than fresh equity investments. The document compares Bangladesh's investment trends and performance in attracting FDI to other South and Southeast Asian countries, finding that countries with better governance, transparency, and political stability have tended to attract more FDI. It recommends that Bangladesh take new initiatives to increase both local and foreign investment in order to achieve its development goals.
India’s Trade with GCC in the Age of Covid 19ijtsrd
COVID 19s emergence has tipped the global economic system. Due to the outbreak of COVID 19, the economic structure of the entire planet has been severely destabilized. Global trade has found itself in a perilous position as a result of the lockdown and social distancing measures that have been put in place. It is one of Indias most important trading partners to have a relationship with the Gulf Cooperation Council GCC . Attempts have been made in this paper to explore the pattern and possibilities of Indian trade with countries of the Gulf Cooperation Council GCC in the period of COVID 19. The data from January 2020 to December 2021 was gathered from secondary sources and then analysed. Specifically, this study investigates the impact of the epidemic on Indias aggregate trade with the countries of the Gulf Cooperation Council GCC . These findings indicate that Indias exports to the Gulf Cooperation Council GCC are more negatively affected by COVID 19 restrictions than its exports to the rest of the world. Despite the fact that the Gulf Cooperation Council countries offer India immense opportunity for trade and investment. Faisal Khan | Mohammed Sulaiman "India’s Trade with GCC in the Age of Covid-19" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-7 , December 2022, URL: https://www.ijtsrd.com/papers/ijtsrd52463.pdf Paper URL: https://www.ijtsrd.com/economics/other/52463/india’s-trade-with-gcc-in-the-age-of-covid19/faisal-khan
This document provides information about Bangladesh, including its population statistics, government leadership, and import regulations. Some key details are:
- Bangladesh has a population of over 158 million, with a median age of 23 years. The majority of people are Bengali and Muslim.
- The current president is Abdul Hamid and the prime minister is Sheikh Hasina Wajed of the ruling Awami League party. Politics has long been dominated by rivalry between Hasina and opposition leader Khaleda Zia.
- Bangladesh has a narrow export base dominated by garments, fish, jute goods and leather. Its import regulations aim to diversify exports, increase higher value goods, and ensure quality and competitive pricing
This document provides summaries of several topics:
1. It summarizes Saudi Arabia's economic challenges of a changing energy market and growing workforce, and the need to diversify the economy, increase private sector growth, and boost women's and youth participation.
2. It briefly outlines the key issues debated at the 21st UN Climate Conference, including disagreement over temperature targets and financing commitments by developed countries.
3. It notes that the Reserve Bank of India kept its key interest rates unchanged in its December policy statement.
The presentation highlights the status of Bangladesh economy, its challenges and prospects in future. Current scenario of Bangladesh economy along with the investment perspective of the country has been highlighted in a well manner.
The document discusses India's "Make in India" initiative launched by Prime Minister Modi to promote manufacturing in India. It aims to attract foreign and domestic investment in 25 key sectors by improving infrastructure, easing regulations, and developing workforce skills. The initiative seeks to address barriers that have hindered manufacturing growth such as regulatory hurdles, inadequate infrastructure, labor laws, and skills gap. While services have driven India's growth, the country needs to increase manufacturing to absorb its growing workforce and improve its trade deficit. Critics argue the initiative may not create sufficient jobs or value addition given infrastructure constraints and global economic conditions. Supporters counter that manufacturing is vital to drive broad economic growth through multiplier effects.
This document provides an overview and key facts about the tourism and hospitality industry in India in 2013. Some of the key points summarized are:
- Foreign tourist arrivals grew 2.8% to 66.95 lacs in 2012-2013, with the US, UK, and Bangladesh being the top source countries. Foreign exchange earnings grew 19.1% to Rs. 99,594 crores.
- Domestic tourist visits grew 19.9% to 1036 million in 2012. Andhra Pradesh had the highest visits with 206.8 million.
- Foreign direct investment in the sector reached an all-time high of Rs. 17,777 crores in 2012-2013, a 274% increase over the
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
This document provides an overview of investment opportunities in Bangladesh. It summarizes Bangladesh's strong economic growth rates and competitive advantages for foreign investment, including a large and growing domestic market, low costs, and a productive workforce. Specific sectors highlighted for investment potential include manufacturing, energy, infrastructure, and services. International organizations are optimistic about Bangladesh's prospects for continued economic growth. The country aims to attract more foreign direct investment through business-friendly policies and economic zones.
Tourism Entrepreneurship in India: Its Untapped Potential and Challengesijtsrd
As being one of the growing influencers and as an economic powerhouse, potential of Tourism sector as a tool of development are undeniable. The Indian tourism sector is one of the most important service sectors which is not only contributing to employment generation, GDP, Foreign Exchange Earnings etc, but also serving as a back bone for allied sectors like hospitality, travel and transportation, hotels and resorts, tour operators, street vendors, home stays etc. All these activities are giving rise to the concept of -Tourism Entrepreneurship' in India. It refers to the business activities related to various tourism products, which give profits to the owner as well as contribute to the economy of India. The paper also studies about the enough untapped potential of tourism industry as well as entrepreneurship and the challenges faced by the industry in India. With all natural beauties such as rivers, beautiful forests with rare species of animals, seas, waterfalls, snow it have great potential to be one of the most preferred destinations in the world. In the 2018 economic impact report by WTTC, Gloria Guevara, president and chief executive of WTTC called India the Seventh largest travel and tourism economy in the world. Pallabi Bharali "Tourism Entrepreneurship in India: Its Untapped Potential and Challenges" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-1 , December 2019, URL: https://www.ijtsrd.com/papers/ijtsrd29651.pdf Paper URL: https://www.ijtsrd.com/economics/development-economics/29651/tourism-entrepreneurship-in-india-its-untapped-potential-and-challenges/pallabi-bharali
Business Opportunities in Tourism and Hospitality SectorAjjay Kumar Gupta
Business Opportunities in Tourism and Hospitality Sector. Setting Up a 5 Star Hotel. Rising Opportunities in India's Hospitality Industry
Hotels industry is one of the major sectors fueling the growth of hospitality sector at the global level. Booming travel and tourism industry is one of the major factors fueling the demand in the hotels industry
The various types of hotels in the world are typically classified as 5 star, 4 star, 3 star, 2 star, and 1 Star, among others. India’s tourism sector is growing, bringing with it an increased demand for hotels that cater to holidaymakers. And hotel groups are seizing the opportunity, expanding across some of the country’s biggest cities.
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The document summarizes tourism's role in the Indian economy. It notes that tourism contributes substantially to India's GDP and employment. The number of foreign tourists visiting India grew 24% in 2004 to over 3 million. Tourism is linked to many other industries like transportation, real estate, and handicrafts. While tourism benefits the economy, some money spent on tourism "leaks" out of India when the country imports goods or foreign investors are involved. The government is taking steps to promote tourism through improved infrastructure and marketing.
The topic was delivered by Shri B.S. Mubarak IFS, Director (South) – Ministry of External Affairs, Government of India, Delhi | Former Consul General of India in Saudi Arabia.
The UAE has experienced rapid population growth due largely to foreign migrant workers. Expatriates make up around 83.5% of the population and come primarily from Asia, especially India. While expatriates hold most private sector jobs, Emiratis hold 40% of public sector positions. During economic downturns, hiring of foreign workers was reduced but later resumed as the economy recovered. The government established policies and ministries to manage migrant labor and wage protection.
This paper investigated the Contribution of RMG to the National Economy of Bangladesh. The understanding between the buyer and supplier is now better than before. At present, Bangladesh is the world-second largest apparel exporter. If the growth continues, within a few years Bangladesh will be the world-largest apparel exporter.
The document summarizes Bangladesh's national budget for the 2016-17 fiscal year. Key points include:
- The total budget was Tk 3.41 trillion (equivalent to 17.37% of GDP)
- Tk 1.17 trillion was allocated for development expenditures including the Annual Development Programme
- Non-development expenditures were set at Tk 2.16 trillion, a 32% increase over the previous year
- Revenue collection was projected to be Tk 2.43 trillion, with the highest amounts coming from Value Added Tax and income/corporate taxes
- The budget projected a deficit of Tk 978.53 billion, representing less than 5% of GDP
The power infrastructure in Bangladesh needs to scale up significantly to support the country's annual economic growth of 7%. Current power demand is around 6,264 MW but may reach 34,000 MW by 2030, representing a major investment opportunity. While investments have improved the sector, Bangladesh remains dependent on natural gas which will only meet demand until 2019. The government's master plan aims to increase the use of coal to generate 50% of power by 2030. Private sector already comprises 42% of installed capacity but rental power plants using expensive fuels need replacement with alternative sources. Substantial investment is needed across the power value chain from generation to distribution to meet the country's growing needs.
The opportunity and challenges of Bangladesh RMG Sector in next Five Years Nazmul Hasan
This document provides an overview of the opportunities and challenges facing Bangladesh's ready-made garment (RMG) sector over the next five years. It discusses how the RMG sector has been a major driver of Bangladesh's economic growth, contributing significantly to GDP and exports. However, it also faces challenges such as ensuring improved workplace safety standards following several accidents. The document analyzes data suggesting the sector could see continued export growth of 7-9% annually through 2020 if it can successfully address issues like developing infrastructure and workforce skills. Overall, the RMG sector remains crucial to Bangladesh's economy but must overcome challenges to realize its full potential for growth.
Similar to Emerging Dismal Scenario in Indian Emigration System Leads to Precipitous Slump in India’s Employment Share in GCC Nations, especially in KSA (20)
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Top 11 HR Trends for 2024 That Will Change Future of WorkVantage Circle
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3. The relationship between India and the Gulf
countries is historically very old and warm.
Trade and commerce is the most important
pillar of the relationship between India and
the Gulf countries.
A glimpse of the strong cultural and
economic ties between them reflects from
two main points:
More than 50 percent of India's oil consumption is
imported from these Gulf countries.
Indian citizens have emerged as the largest
migrant community in the Arabian Peninsula.
4. According to the MEA website, by December 2016,
more than 3 crore Indian nationals are living in 208
countries around the world.
Among them, 84 lakhs, which is 28 percent of total
number, are living and working in 6 GCC countries.
Total population of foreign nationals in GCC countries
is 2.5 crore, out of them, Indians are 34 percent.
And among Gulf nations, highest number of Indians
are in KSA, that is 30,53,567 (35%)
Bahrain Kuwait Oman Qatar Saudi Arab UAE Total
2016 3,16,175 9,23,260 7,96,001 6,00,000 30,53,567 2,803,751 84,92,754
5. Post independence in 1947, New Delhi has developed its full-
fledged diplomatic relation with Riyadh, which has witnessed an
upswing during past few decades, reinforcing more economic and
socio-cultural ties between the two nations.
In trade and Commerce, according to the financial year of 2014–
15, Saudi Arabia is our 4th largest trade partner after China,
United States and United Arab Emirates.
As the largest supplier of crude oil to India, KSA is a major source
of energy as we import around 20 percent of our crude oil need.
Beside trade, investment and cultural ties, India has a very
special kind of relation with the strongest economy of the Gulf
region.
around 30 per cent of the total expatriates of Saudi Arabia, are
Indians, which makes them the largest expatriate community in
the Kingdom.
The Indians are the most preferred community by their
employers not only in KSA but in the whole region due to their
expertise, sense of discipline, law abiding and peace loving
nature.
6. According to the World Bank statistics, in recent
years, India has received around $ 70 billion in
remittance from Indians across the globe, which
is the highest amount of remittance received by
any country in the world from its immigrant
citizens in a period of one year.
This amount contributes about 4 percent to
India's GDP, which is almost three times more
than that of Foreign Direct Investment (FDI) to
India.
Out of this $ 70 billion, approximately 52
percent come from GCC countries, among them,
UAE and Saudi Arabia have the biggest share of
35 and 30 percent respectively.
7. Source Country Amount (USD)
1 UAE 12.57 billion
2 Saudi Arab 10.51 billion
3 Kuwait 4.69 billion
4 Qatar 3.97 billion
5 Oman 3.07 billion
6 Bahrain 1.25 billion
Total 36.05 billion
8.
9. The increase in inflow of remittance to India
from Gulf countries is the result of increase in
the number of Indian migrants going into Gulf
workforce.
The MEA’s website for Overseas Employment
Division “www.emigrate.gov.in” says that in
2007, the deployment of Indian workers in six
GCC countries was only 1,73,607.
Since then, there is a constant increase, and in
the last 5 years (barring 2016), India deployed an
average of 7.5 lakh semi-skilled and unskilled
workers in the Gulf countries for employment.
Out of them approximately 3.25 lakh arrived in
Saudi Arabia alone.
12. The biggest increase has been witnessed in
KSA, as in 2007 India sent only 36,860
workers, but after that it deployed more
than 2 lakhs every year and the highest
deployments was 3,56,489 in 2012.
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
36860
227657
280991 274544
293880
356489 353565
329882
306642
165356
Employment to KSA From India since 2007
13. However, two new phenomena that emerged vis-à-
vis in last two to three year in India’s policy
makers’ side, have deeply affected Indian blue
collar workers going into the Gulf workforce, and
their strength in the region dwindled significantly.
And surprisingly, India’s share of jobs in the Gulf has
been diverted to Pakistan and Bangladesh.
UAE KSA Qatar Kuwait Oman Bahrain Total
2014 224037 329882 75983 80420 51317 14207 7,75,846
2015 225512 306642 59340 66543 85028 15619 7,58,684
2016 163731 165356 30619 72402 63224 11964 5,07,296
Decline
(in 2016)
-61781 -141286 -28721 +5859 -21804 -3655 -251388
https://emigrate.gov.in/ext/fetchECReport.action Accessed on 07/02/17
14. This situation developed mainly due to two factors;
1) Minimum Referral Wages fixed by the government of India to regulate
the wages of Indian migrant workers employed in different occupations in
countries falling under the category of “emigration check required” (ECR). The
major rationale for putting this concept, as stated by the Ministry of External
Affairs , is “to ensure that an Indian [migrant] worker is not put to a
disadvantageous position by the [foreign employer] by unilaterally fixing wages,
which might be much less than the prevailing wages in the host country as well
as in India”. Among other origin countries like India, Pakistan, Bangladesh,
Nepal, that send the workers to the Gulf region, India’s referral wages are the
highest as cited by International Labor Organization (ILO) in a study named
‘MINIMUM REFERRAL WAGES FOR INTERNATIONAL MIGRANT WORKERS FROM
INDIA: AN ASSESSMENT’ (S K Sasikumar and Seeta Sharma, September 2016).
Therefore, from the day one, this regulation was criticized and had met bitter
resistance by foreign employers in all GCC countries. Some countries at that
time had threatened to reduce their Indian workforces and hire more, lower-
paid workers from Bangladesh, Pakistan and Nepal instead. After this discussion,
we are now well-positioned to judge that what is the role of this hike in
minimum referral wages in reducing Indian migrant workers to the Gulf region.
15. 2) Emigrate Lengthy Procedure. In May 2015, the government of
India introduced a unique computerized system called “e-
Migrate” To regulate overseas employment especially for
protection of less educated blue collar workers as a measure to
ensure protection against possible exploitation of the Indian
workers by their employers. This project which was actually
aimed to protect Indian laborers from frauds and to ensure
minimum wages to them, has not worked in their favor, as
foreign employers have switched over to hiring laborers from
Bangladesh and Pakistan. Because, The Gulf-based employers are
not quite tech-savvy, and they are generally known for not
having much awareness about modern technology especially
computers to fulfill such burdensome formalities and emigration
processes. Because, the new system requires all the foreign
employers to register in the eMigrate system. This made
compulsory for the entire foreign employers of Indian blue collar
workers to fill in a registration application which is then vetted
by the respective Indian mission. Now by using only this system,
any foreign employer can raise the demand for Indian blue collar
workers and seek a permit to recruit Indians in online manner.
16. In recent year, many news reports stated that due the low oil
prices, political instability in the region, ISIS and Saudi’s war with
Yemeni Huthis, the economy of the Gulf countries, especially
Saudi economy is crumbling heavily. The politicians and rulers in
the region have started talking about budget cuts and the need to
attack subsidies and so on. This is the reality, nobody can afford
to deny. However, a question arises here, has it also affected the
number of migrant workers going into the Gulf workforce in
general and Saudi Arabia in particular?
The leading English-language daily newspaper from Jeddah ‘Saudi
Gazette’ has published a news report on November 28, 2016. The
newspaper cites in its report that according to the General
Authority for Statistics (GAS), there has been a 12.17 percent
increase in the number of expatriates till the third quarter survey
for this year. The GAS survey further showed that the number of
expatriates in the Kingdom reached 11.6 million by mid 2016. In
2015 there were only 10.2 million expats in the Kingdom.
17. So, the hike in Minimum Referral Wages, and the
complexities and technical faults in the eMigrate
system which led to expiration of a big number of
visas annoyed overmuch the foreign employers,
and finally many of them made their mind to give
the India’s share of Gulf employment to some
other countries like Pakistan and Bangladesh.
Since then, we have lost around 40 percent jobs in
the Gulf workforce which was by and large
fetched by our neighboring countries Pakistan and
Bangladesh.
18.
19. When we compare the combined
shares of these three countries, we
find that in 2013 India’s share reached
up to 57 percent as shown in the
chart. But since then, India is facing a
constant decline and in 2016 it dipped
down to merely 27 percent. See the
following table to comprehend more
precisely the loss that has been
inflicted on Indian workers:
21. in 2013, India deployed 7,88,424 (57%)workers in
all six GCC countries, and in the same year,
Pakistan and Bangladesh deployed 3,39,748 (25%)
and 2,43,668 (18%) workers respectively. But,
within 3 years, in 2016 a surprised change
occurred in their shares. India’s share went down
to merely 5,07,296 (27%) and Pakistan and
Bangladesh’s share went up to 8,22,032 (43%)
and 5,72,028 (30) respectively.
The trend of inflow of migrant workers in GCC
countries in the early two months of this year,
shows that in 2017 India can only deploy around
4 lakhs workers in the Gulf because in January
and February India could only deploy merely
63,866. Also, observe the number of Pakistani
and Bangladeshi workers, how much it has shot
up in these two months.
23. In other words, the share of Bangladesh in Saudi migrant
workforce was constant around 2 percent for many past
years until 2014, however in 2015 and 2016 it rose
unexpectedly up to 7 and 19 percent respectively. As for
as Pakistan’s share is concerned, it was always less than
of India’s share, however, only in 2015 and 2016 Pakistan
overtook India and unpredictably reached 60 percent
from previous average 45 percent per year.
25. The trend of inflow of migrant workers in GCC
countries in the early two months of this year, shows
that with the current pace, India can only deploy
around 4 lakhs workers in 2017 in the Gulf, because
in January and February 2017 India could only
deploy merely 63,866 (21%). This will be again a
downfall of more than one lakh in comparison with
the previous year of 2016, and in comparison with
2013, it will be a complete fifty percent slump. Also,
look into the number of Pakistani and Bangladeshi
workers, how much it has shot up in these two
months. Both the nations have reached 91,584
(30%) and 1,50,612 (49%) respectively in first two
months of the current year. So, the present scenario
indicates that with this pace each of them will attain
the target of something between 7 to 8 lakhs in
2017.
26. Indeed, it is need of the hour that
Indian government and its
institutions concerned with the
emigration related affairs, ponder
upon reviewing its policies and
regulations that give an impression
of being the main factors in the
downfall of India’s blue collar
workers in GCC countries, mainly in
KSA.
Here, I would like to point out some
uneasy areas which the government
can think of for improving the
whole emigration clearance system
of blue collar workers for the Gulf
workforce that has lot of potentials
to boost India’s economy by
providing bundle of overseas jobs in
the Gulf region primarily in Saudi
Arabia.
1. Government should scrap
the provision of
employer’s registration
on emigrate system and
should bring back the
previous procedure of
emigration clearance of
workers for deployment
in GCC countries, that
was in practice before
2015.
2. On Minimum Referral
Wages (MRW), I would
suggest that government
should give some room
for negotiation among
the main stakeholders to
reach a common ground.