ABSTRACT

Globalisation results in blurred international boundaries and has increased the connectivity and dependence of countries and communities. This has affected the global labour market, particularly in terms of the dependence of developed countries on developing countries for cheap and skilled labour. Globalisation has facilitated mobility, circulation, exchange and income in the form of migration, return migration, employment and remittances. International migration and remittances have engaged the attention of policy makers across the globe as it affects the economic, political, cultural and social life of migrants in the origin and destination countries. The Indian diaspora has contributed significantly towards India’s economic development, mostly in the service sector. Overseas Indians estimated at over 30 million are spread across 110 countries. However, the Indian diaspora has not come forward as active investors in the Indian economy in the scale that was expected post-liberalisation, as compared to Chinese investment (Roy and Banarjee 2007). That being said, it has created a reasonable influence towards India’s service sector development. The available information suggests that investments by diaspora in the Indian economy are very low. The total amount of investments by Indian expatriates (NRIs) over the period 1991-2001 was estimated at US$2.6 billion out of the total US$10 billion FDI in India, which was meagre compared to the approximate 70 per cent of the US$196 billion FDI received by China during the late 1980s and 1990s. It should, however, be noted that the Indian government does not keep records of NRI investments separately. According to the World Bank Report 2012 however, India received US$72 billion dollar as remittances, which was the highest among all countries. Similarly, there is an extent of high-level investment from countries with a higher number of diaspora, such as Mauritius (39 per cent) and Singapore (10 per cent) followed by other countries (Department of Industrial Policy and Promotion, Government of India, June 2012). The analysis of the impact of diaspora involvement in the economies of their countries of origin in this chapter is set against the backdrop of the potential for investment possessed by the diaspora and their visible presence in India’s healthcare sector. The lack of systematic data on professional migration in India has made it difficult to estimate the actual magnitude of health worker movement. In the

wake of the evolving global and national effort to restructure the migration of professionals – especially that of health professionals – this chapter tries to understand the diaspora entrepreneur approach in the healthcare sector of DelhiNCR, India. This chapter is divided into four sections. The first section creates a theoretical profile of diaspora entrepreneurship, the growth of diaspora financial instruments, and their gradual usage to fund homeland ventures. The second section looks at the role of the Indian government in diaspora engagement for the healthcare industry, and how the government changes its rules and regulations over time. The third section tries to elaborate on and analyse the diaspora engagement in the healthcare sector through an analysis of four major healthcare institutions of Delhi-NCR. Finally, the fourth section discusses the significance of diaspora engagement in the healthcare sector through findings of the study.