The global Indian Diaspora has grown tremendously in numbers, stature, wealth and influence over the past decade. It will be in India's best interest to engage with her diaspora. Doing so in an effective and relevant manner will enable members of this dynamic group to capitalise upon the emerging business and investment opportunities in India and thereby to contribute towards India's future growth and development.

Today, the diaspora is not courted for its wealth only, but also for its knowledge, technology as well as political and economic influence. The diaspora also finds that there are many reasons to engage with India with much pride. Examples of NRIs and PIOs returning to India, to invest their savings and generate employment or to take up leading positions in industry/society and transfer their know-how, is now a common feature. Similarly, Indian corporations, leveraging off the expertise of the diaspora, to tap international markets and expand their global footprints, are also no longer rare testimonials.

Given this scenario, it is said that we have barely touched the tip of the iceberg and there is much more that needs to be done, for India and her diaspora to proclaim that the engagement has been consummated. This requires that India must increasingly open its market to the diaspora and tap their cohesiveness and synergies to develop prospective business opportunities.

Indian diaspora with its unique knowledge and networks can help to deepen mutual understanding, forge productive business partnerships and promote trade and investment flows all over the world. This will further help in deepening of the ties between India and world economies and thus help in developing a more competitive, industrious and vibrant relationship.

In its efforts towards deepening India's engagement with its diaspora, the Indian Government has fostered a host of initiatives in philanthropy, development, education and investment. The Ministry of Overseas Indians has taken up many initiatives not only to help interaction with Indian communities around the world but also help them find their roots. The past year has been significant for the Ministry of Overseas Indian Affairs with a host of landmark initiatives aimed at the welfare of the millions of overseas Indian workers. Other key initiatives seek to involve the diaspora in India's destiny and development. The four important initiatives announced by the Prime Minister at the Pravasi Bharatiya Divas 2008:-

• Establishing the 'India Development Foundation' (IDF), a not for profit trust to serve as the focal point for diasporic philanthropy in India. Philanthropy is an ideal area where a number of new partnerships can be built, existing ones strengthened and the range and reach scaled up. To give impetus to these partnerships,the IDF trust will serve as a credible institutional mechanism to lead overseas Indian philanthropic propensities into human development efforts in India. The foundation will assist overseas Indians to contribute to the cause of education, health and rural development in their erstwhile home villages, districts or states. It will also partner with credible NGOs and philanthropic organisations actively engaged in social development,thus providing a strong public-private partnership bridge between overseas Indians and their target beneficiaries.
• Proposal to set up a PIO University gained momentum after the government approved the basic policy framework for the University. The university, being established in Bangalore on a public-private partnership model, will have autonomy and flexibility both in academic disciplines and governance.
• To enable the government to draw upon the best overseas Indian knowledge and expertise, the Ministry proposes to establish a global advisory council of overseas Indians chaired by the Prime Minister. This high-level platform will bring together some of the best minds wherever they reside and serve as a policy `think tank' in all matters relating to India’ s engagement with the overseas Indian community.
• A 'Pravasi Bharatiya Kendra (PBK)', to serve as a state of the art centre for overseas Indians. It will be a modern, environment friendly facility that will provide an exhibition centre, a library cum documentation centre, an auditorium, a business centre and myriad other facilities and will constitute the hub of overseas Indian activity in India.

Indian Diaspora is a pluralistic community just as India. It holds within its fold people of different languages, faiths and regions. In this increasingly inter-dependent and inter-connected world, overseas Indians are becoming "Global Citizens" and the overarching idea of a shared culture and shared values bonds all of us together.