Bangalore has become the first to get the special non-resident
Indian city. The government is setting up a special economic
zone for overseas Indian in Karnataka.
During the 12th anniversary of the RNRI Association when Mr.
Jagdish Tytler Union Minister of State for NRI Affairs has presided
over the event he spoke to the RNRI members also about the same
matter. Speaking to Economic Times he said, "This is a
big project under the overseas Indians ministry and we have
already tied up investment from NRIs and people of Indian origin
worth $2.5 billion".
The economic zone will function as a NRI city within the city
of Bangalore and the effort will be to attract investments in
various areas like housing complexes, educational institutions,
malls, infrastructure facilities, hotels and motels, IT and
ITes units.
Mr. Jagdish Tytler added that, the ministry and state governments
will ensure that the NRIs setting up shop in these cities get
single window clearance for their projects and we hope to attract
investments up to $14-15 million annually through them. The
new ministry is looking at various venues in the city to host
the annual event for NRIs and PIOs in January 2005.
