ABSTRACT
In the last decade of the twentieth century the Indian diaspora has increasingly begun to acquire a distinct global identity. With historic settlements around the world, and successive migrations in the last two centuries to North America, Europe, Africa and the Middle East, the Indian diaspora reflects a growing self-consciousness that has been further strengthened by the developments of new communication technologies and rapid globalisation. At the same time, much of the contemporary fascination with the subject in India arises from the economic potential of overseas Indians, by way of their ability to radically transform the fortunes of the ‘homeland’ economy. Since the beginning of economic liberalisation in India (1991), Non-Resident Indians (NRIs) have played an active role in foreign direct investment in India. Their contribution has been recognised by the government of India, which has decided to grant them special economic and legal concessions. This decision, it could be argued, reflects a realistic assessment that, with appropriate conditions, the Indian diaspora will follow the trajectory of the Chinese diaspora in relation to China: providing large capital flows for India’s continued, sustained and rapid economic development in the twenty-first century.
