They are no dream merchants. But after hitting the jackpot in foreign lands, NRIs who are originally from Punjab are yearning to do something for their motherland.
Lackadaisical approach of bureaucracy is scaring away NRIs even though they are keen to invest
CHANDIGARH: They are no dream merchants. But after hitting the jackpot in foreign lands, NRIs who are originally from Punjab are yearning to do something for their motherland. So, during a two-day conference in Chandigarh and Jalandhar, the Punjab government presented them a vision of a vibrant Punjab. But the NRIs are not so sure whether the vision will materialise given the lackadaisical approach of the bureaucracy.
Making a power-point presentation on “Vision Punjab”, acting president of Akali Dal Sukhbir Singh Badal said: “Punjab is a land of opportunities and NRIs contributing to its growth this year will reap benefits in the next 10 years. He hastily added that “Vision Punjab” was not a political statement.
Chief minister Parkash Singh Badal too promised the NRIs all assistance in making investments in Punjab and said the government had already set up a separate department for this purpose. But the NRIs present at the conference said they had “little faith in the Punjab bureaucracy”. Virender Sharma, a Labour MP from UK, said the “vision” presented by Badal should not smack of political interest because the NRIs were interested in Punjab, not in any political party.
Anita Sharma, a London-based hotelier, said she was prepared to invest Rs100 crore but the system in Punjab was too hostile to evoke confidence. She said she had tried her hands earlier too, but felt stifled with the manner in which bureaucrats created bottlenecks.
The US-based Sant Singh Chatwal, considered close to the Clinton family, was categorical saying that “nostalgia does not make business sense”. Chatwal, who runs the company, Hemisphere hotels and resorts, said he was ready to pump in Rs1200-crore o set up two hotels in Punjab because he was put off by the facilities provided by hotels in Punjab.
Thailand-based Santokh Chawla was no less candid. “If you want us to invest in Punjab, talk to us like professionals,” said Chawla, who had recently diverted his investments to China. Raghubari Bassi, an economist in the US, agreed saying that the system in Punjab was far from conducive for NRI investments.
b_ajay@dnaindia.net
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