The Standing Committee on External Affairs said the Overseas Indian Affairs Ministry must seize various opportunities including its annual flagship event the Pravasi Bhartiya Divas to woo the NRI investors.
"For this purpose, the Ministry of Overseas Indian Affairs should also consult and deliberate with all the concerned ministries, departments, agencies and particularly with the Ministry of Commerce to chalk out a comprehensive plan to attract more investments in the fields where FDI is allowed," the committee said.
The report has been presented to both Lok Sabha and Rajya Sabha.
The committee also criticised the Ministry for failing to collect exact figure about number of Indian diaspora living in foreign countries.
"It is unfortunate to observe that the Ministry created for handling all the matters relating to Overseas Indians has no authentic data of its own and they have to depend upon estimates projected in international documents," it said.
As per official figure, over 25 million overseas Indians reside in 189 countries.