Recognising the role of overseas Indians in the country's development, Prime Minister Manmohan Singh said on Sunday the diaspora has much more to contribute to the building of modern India and Government is committed to promote this engagement.
Addressing over 1,900 NRIs, Singh also said that there is need to be alert to the unfolding developments in Gulf and West Asia but assured them it was ready to extend such help to them anywhere should the need arise.
Listing several steps taken for the welfare for overseas Indians, the Prime Minister said the government was also ‘acutely conscious’ of the safety and security of Indians living abroad, particularly in regions characterised by instability.
"The government and people of India recognise and greatly value the important role being played by Indian communities living abroad. We believe that the Indian diaspora has much more to contribute to the building of modern India.
"We propose to facilitate, encourage and promote this engagement. Over the past year we have taken a number of steps towards this end," Singh said.
The Prime Minister told the overseas Indians that the government has decided to introduce and sponsor a new Pension and Life Insurance Fund for overseas Indian workers.
The Union Cabinet had cleared a proposal for setting up of a Pension and Life Insurance Fund (PLIF) for them in the Emigration Check Required (ECR) countries on January four.
"The scheme will encourage, enable and assist overseas workers to voluntarily save for their return and resettlement and old age. It will also provide a low-cost life insurance cover against natural death. This scheme fulfils a long pending demand of our workers abroad," Singh said.