New Delhi/Sharjah, May 18 UNI | 2 months ago

UAE-based Pravasi Bandhu Welfare Trust has welcomed the change of guard in New Delhi.


Trust Chairman KV Shamsudheen stated that after 10 years corrupt and people-unfriendly rule of the UPA government, there was a quest for an inevitable change. 'It happened in the Indian election.'

Narendra Modi's farsighted and calculated approach, Mr Shamsudeen said, to emerge on the national arena had given unexpected results.

Since NDA, he said, has enough majority to make decisions without any pressure, Modi will make visible changes immediately in the commodity prices, poverty alleviation, infrastructure development, foreign investment and control of terrorism and corruption.

'I expect a quantum jump in Indian economy and India become second largest economy in the world under Modi's rule.

'Also don't be surprised if we see the Sensex touch 50,000 points within a few years,' the leading NRI said.

'The Indian diaspora remitted more than US$70 billion last financial year, equal to 2.5 times of FDI, 25% export and 6% of GDP.

'The exporters and FDI are getting many concessions and special treatment for bringing foreign currency to the country.

'We NRIs kept on presenting to the UPA government our grievances but we never got any result.

'Indian diaspora has given massive support to Modi, so I am sure that he will try to address our problems,' Mr Shamsudheen added.

(Posted on 18-05-2014)