The Indian Union Minister of Commerce inaugurates the PIO Investor Help Desk

Indian Diaspora business leaders and representatives from more than 20 countries gathered at the Taj Palace Hotel, New Delhi, on January 10, 2020, to participate in the first public-private initiative powered by the partners virtually and through on-ground activities.

PIO INVESTORS HELP DESK was inaugurated and launched by the Honourable Union Minister for Commerce & Industry and Railways, Mr. Piyush Goyal. Senior officials of the Ministry of Commerce & Industry, Ministry of External Affairs, Invest India team, PIOCCI officials and representatives attended. The Honourable Minister said the Indian Government will ensure that Diaspora investors receive all information, hand-holding and support to set up enterprises or pure investment. He said his Ministry and the Government would be keen and willing to entertain special requests, emphasising the vision of the Honourable Prime Minister Shri Narendra Modi to woo Diaspora investment and utilise the Diaspora's accomplishments, especially in science, technology and innovation across all sectors.

The dignitaries addressing the gathering included Additional Secretary in the Ministry of External Affairs Ambassador Dinesh Patnaik, Joint Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT) in the Ministry of Commerce & Industry, Smt. Sumita Dawra, CEO of Invest India Shri Deepak Bagla, Patron of PIOCCI Shri Raj Kumar Bhatia, Working President of PIOCCI Shri Atul Kulkarni and Vice President of PIOCCI Shri Munish Gupta. The august gathering included several Secretaries and Joint Secretaries of the Government of India, Resident Commissioners of different States of India, representatives of other Ministries, Ernst & Young, Indian National Students Association alums who have set up businesses and start-ups in India and across the world and members of the media.

PIO INVESTOR HELP DESK was virtually introduced on the Invest India website (and other connected online platforms) and the PIOCCI website. It was explained that queries invited and generated electronically through websites as well as received by PIOCCI will be handed over to Invest India for resolution through responses elicited from the Central or State Government or any other authorities as required. PIOCCI would also embolden the initiative by offering its Indian members to match with prospective Diaspora investors / joint venture seekers.

Supported by Indian Missions overseas through the Ministry of External Affairs, specifically the Overseas Indian Affairs (OIA) Division, PIOCCI and Invest India intend to undertake activities to generate awareness on investment reforms in India, showcase opportunities as well as specific projects across different priority sectors in India, assess and understand the investment interests of the Diaspora, address Diaspora queries with regards to setting up enterprises, work with nodal Ministries and State Governments / local authorities, to induce, facilitate and enhance Diaspora economic engagement, specifically investment. The Diaspora is enthused with growing opportunities in a New India with dynamically changing policies, especially reforms that encourage investment, emphasise manufacturing, and expand trade opportunities. The Diaspora has an inherent and emotional attachment that attracts them to invest in the changing India. Yet, driving Diaspora investment with a focused approach requires a platform with like-minded and able partners that guide and even hand-hold prospective investors to pave the way for efficient processing of proposals and projects.

PIOCCI will collaborate with Invest India to significantly expand the outreach and connect with businesses and investors among the 30-million-strong community of Non-Resident Indians (NRIs) and People of Indian Origin (PIOs). NRIs include those who continue to retain Indian passports and reside on long-term visas in countries for work or business or may have gained permanent resident status in other countries. PIOs include those who possess passports of different countries and typically comprise two categories – one, that has now lived for 4 or more generations in certain countries where migration dates back 200 years, and two, those categorised as Overseas Citizen of India (OCI) Card Holders who have naturalised as citizens with first and second generation families in western/ developed countries. India offers special, long-term NRI visas, and OCI Cards (now merged with earlier PIO Cards) allow special rights to visit and stay in India for extended periods and engage in professional/ work and business activities.

Formed in 2003 and headquartered with an entire secretariat in New Delhi, PIOCCI has successfully created a hub-and-spoke model of 50 Country Chapters worldwide and 20 State Chapters across India. PIOCCI's vision and mission is to enhance Diaspora's economic engagement with India and business network the Diaspora worldwide.

PIO INVESTOR HELP DESK will be manned in India as a nodal point to support investors in coordinating with State and Central Governments and any statutory authorities. In exceptional cases, incentives may be offered or discussed. The objective goes beyond generating awareness to actual facilitation, helping remove bottlenecks and efficiently responding to concerns. Invest India will serve as an official representative through the Ministry of Commerce & Industry and the Ministry of External Affairs to connect with all other Ministries and State Governments.

After the inaugural session, two intense conference sessions followed with presentations by Invest India, Ministry of External Affairs Overseas Indian Affairs Division, and a dialogue between Diaspora business leaders and government officials.

Discussions during sessions and offline during the day highlighted that this new public-private initiative should target small and medium investments from the Diaspora. Significant investments have their pathways.