Thailand-based NRIs keen to invest in Punjab

The Indian diaspora in Thailand has shown interest in investing in Punjab. A delegation from Thailand led by the president, Indo-Thai Friendship Association, S S Chawla, met the governor of Punjab, S F Rodrigues, in Chandigarh today with proposals for investment in entertainment, education, infrastructure, real estate, and agriculture.

The delegation also met Punjab's principal secretary, industries, SC Aggarwal.

Talking to mediapersons in Chandigarh, Chawla said out of the 54,000 Punjabi non-resident Indians in Thailand, 1,500 were large entrepreneurs who were diversifying their businesses.

He said most of them were investing in China. The Indo-Thai Friendship Association has taken an initiative to motivate Thailand-based Punjabi investors to invest in Punjab.

Chawla added that a summit "Think India" would be organised in first week of March in Chandigarh to mobilise funds from non resident Indians.

The International Punjabi Chamber for Service Industry (IPCS) has set Rs 5,000 crore as the targetted amount of investment from Punjabi NRIs in the year 2006 for the state of Punjab.

"Thailand-based Indians send their children to India for education in states other than Punjab. The forum will propose investments to set up world-class educational institutes in Punjab that will also generate revenue for the tourism sector," told Chawla.

He added that there was scarcity of agriculural land in Thailand. So Punjabi farmers , through contract farming could source food grains to Thailand.

Chawala is into textile and real estate business and is a third-generation enterprenuer in Thailand.

He indicated that there was a communication gap between the government of India and non resident Indians regarding investment opportunities in India.

He said NRIs wanted the government to play the role of a facilitator.

He added that Punjabi NRIs had committed Rs 25 crore for the proposed media entertainment industry centre at Chandigarh.