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The merger of <keyword id="392684" type="UNKNOWN" weightage="80" keywordseo="Persons-of-Indian-Origin">Persons of Indian Origin</keyword> (PIO) and <keyword id="392685" type="UNKNOWN" weightage="80" keywordseo="Overseas-Citizens-of-India">Overseas Citizens of India</keyword> (OCI) schemes announced by Prime Minister <keyword id="6354477" type="PERSON" weightage="80" keywordseo="Narendra-Modi">Narendra Modi</keyword> is turning out to be a confusing exercise at embassies abroad. 
 
A top home ministry official told Economic Times that the ministry has now "advised" the foreign ministry that PIO card holders should get their cards converted to machine friendly OCI cards at a nominal fee as the existing PIO document - which is a paper document - will not be compatible with the card reading machines to be installed soon at Indian airports soon. 
 
"We have advised that PIO cardholders apply and get their cards changed to OCI at the respective embassies so that they do not face any difficulty as authorities in different countries or Indian immigration ports may be confused regarding the PIO-OCI merger," the top ministry official told the financial daily. 
 
As per the Citizenship Amendment Bill, 2015, all PIO card holders "are deemed" to be OCI card holders with effect from January 9, 2015. 
But it did not point out that the cards will need to be changed. 
 
The officials in the foreign ministry cite lack of homework on part of the home ministry as one of the reasons has led to the issues, and are thereby creating confusion at Indian embassies abroad. 
 
"We may issue FAQs (frequently asked questions) soon to clear the air," the top home ministry official told ET as the embassies have been inundated with complaints due to lack of clarity on the issue. 
 
The official told the financial daily the home ministry has scrapped its earlier order that said all PIOs must convert their cards to OCI within three months and the deadline of April 9 has been extended indefinitely. 
 
ET reported that the Indian embassy in France first issued an order saying that with effect from April 8 it is mandatory to replace PIO cards with OCI cards. But it has now modified this saying, "it has now been decided by the Ministry of Home Affairs that PIO will be valid beyond April 8 till further instructions, but PIO holders should apply for OCI cards in lieu of PIO cards.” 
 
(Image: Reuters)

PIO-OCI merger: What aimed to simplify NRIs life has added more to complexity

New Delhi, Feb 1 () Non-resident Indians not paying taxes in any foreign country will now be taxed in India, the Union Budget for 2020-21 has proposed.
 At present, if an Indian or a person of Indian origin managed his stay in India such that he remained a non-resident in perpetuity, he was not liable to pay tax on his global income in India.
 The Union Budget 2020 has now proposed to introduce a deeming provision that every Indian citizen who is not liable to tax in any other country, by virtue of his domicile or residence, shall be deemed as a resident of India. Consequently, his global income would be taxable in India.
 Tightening the residency provisions, the Budget also proposed to reduce the period of stay in India to 120 days from 182 days earlier for persons of Indian origin (PIOs) to be categorised as non-resident Indians (NRIs).
 "...In many cases we have found that some people are residents of no country in the world, they may be staying a certain number of days in different parts of the world. So... any Indian citizen - if he is not a resident of any country in the world - would be deemed to be resident in India, and then his worldwide income will be taxed," Revenue Secretary Ajay Bhushan Pandey said.
 Amending Section 6 of the I-T Act, the Budget proposed that "Notwithstanding anything contained in clause (1), an individual, being a citizen of India, shall be deemed to be resident in India in any previous year, if he is not liable to tax in any other country or territory by reason of his domicile or residence or any other criteria of similar nature".
 Reworking the definition of NRIs, the Budget document said that the I-T Act provides that an Indian citizen or a person of Indian origin shall be Indian resident if he is in India for 182 days in that year.
 "This provision provides relaxation to an Indian citizen or a person of Indian origin allowing them to visit India for a longer duration without becoming resident of India. Instances have come to notice where the period of 182 days specified in respect of an Indian citizen or person of Indian origin visiting India during the year is being misused.
 "Individuals, who are actually carrying out substantial economic activities from India, manage their period of stay in India, so as to remain a non-resident in perpetuity and not be required to declare their global income in India," said the memorandum to the Budget.
 Pandey said changes have been brought about in the Income Tax Act, which states that if an Indian citizen stays more than 180 days out of the country, he becomes a non-resident. 
 So we have made some changes there. Now, in order for him to become a non-resident he has to stay out of the country for 240 days, Pandey said.
 The Budget also proposes to rework the definition of "not ordinarily resident" in India, if the individual has been a non-resident in India in 7 out of 10 previous years preceding that year. Earlier for an individual to be considered "not ordinarily resident", he/she had to be a non-resident in India in 9 out of 10 years.
 Nangia Andersen Chairman Rakesh Nangia said, "Residency provisions for the purpose of taxation has been tightened, specifically for stateless persons, who are not liable to tax in any country or jurisdiction. This could impact non-resident Indians staying in countries such as UAE which does not impose income tax on individuals under local tax laws.
 Transaction Square Founder Girish Vanvari said, "These changes in definition would deter people from coming to India and some can even think of giving up Indian citizenship".
 Gopal Bohra of NA Shah Associates said at present, it is entirely possible for high net worth individuals to arrange his affairs in such a fashion that he would not be liable to tax in any other country and also not in India.
 The new provision "will adversely impact High Networth Individuals using the domicile mechanism to evade tax globally," he said. JD DP ANZ ANS
ANS

Non-taxpaying NRIs to be taxed in India: FM

Buying a home ‘back in India’ is every NRI’s dream. Thankfully, it can be fulfilled due to availability of easy home loan facilities, relaxed rules by the RBI and online transacting options. 
 
While the guidelines to apply for NRI home loans are same as those for resident Indians, certain terms differ for the former. NRIs are allowed to buy any property or plot for commercial or residential use however agricultural land, plantation property and farmhouse are not permissible unless specific consent from the RBI is attained. 
 
So if you’ve shortlisted a property and want to approach a bank, it will be a good idea to ensure that you meet the following criteria. 
This begins with the NRI status in the first place. Both Non-Resident Indians and Persons of Indian Origin can apply for home loans. While salaried people need to have spent a minimum of one year in employment abroad, businessmen or self-employed are eligible only after three years of employment. 
 
Furthermore, self-employed might find themselves battling stricter rules and challenges. For example, those with office spaces and white collared jobs get granted loans, but a taxi driver might not. PIO and OCI may not be allowed to buy plots and commercial properties but those classified as NRIs can. Certain jobs may also be treated differently. For instance, Indian Merchant Navy personnel can be classified as NRI if they possess a foreign account and the same rules will apply. 
 
Any person above the age of 21 can apply but a ruling factor for home loan sanctions are the income and educational qualification of the applicant. One is required to possess at least a graduation degree or diploma certificate. With respect to income, banks differ on minimum income limits but an average of USD 30,000 for those living in Western countries and 35,000Dhms for those in the Middle East usually suffices. But do keep in mind that banks don’t fund negative locations like Africa. 
 
The documentation requisites mostly include passport copy, valid visa and work permit copies, proof of foreign residence, employment contracts, salary certificate and updated NRE/NRO account statements. Certain banks may ask for more documents either based on your income or location. However, the good news is one needn’t make a visit to India to apply for home loans. Most reputed banks have their branches on foreign shores, or one can even apply online. However, a friend or family member living in India will have to mandatorily be assigned the Power of Attorney and as co-applicant to carry out further formalities with the bank. 
 
Most banks allow 80-85% of the value of property subject to gross monthly income. The rate of interest for NRI home loans tend to be the same or sometimes marginally higher than resident loans due to the higher risk involved. In case of flat purchases, the banks pay the loan amount directly in favour of the builder as per the due dates mentioned in the agreement. Unlike resident Indians, the tenure for NRI home loans is usually restricted to 15 years and can be extended at the discretion of the bank for select individuals. This is because most banks have a general idea that repayment capability is much higher for those living abroad. 
 
The down payment and repayment of the loan can only be done in Indian Rupees and through normal banking channels or NRE/NRO accounts by way of remittances from abroad. In case the house bought is for investment purpose, the RBI also permits rent received to be paid against the EMI. 
 
However, before going ahead with the loan, do make sure to check for any hidden costs or loopholes involved. Comparing rates of different banks and checking other costs like processing and administrative fee, pre and late payment charges etc. will help make a more informed choice. 
 
Assigning the Power of Attorney in advance can further quicken the process. With numerous housing portals dominating the online space today, the ease of shortlisting a house and applying for loans has become a child’s play. Some of these portals have also partnered with financial institutions to provide better service and a hassle free experience. Not only do they liaison between the bank and the customer, but also ease the documentation work with builders. 
 
So if you intend to apply for a home loan by either doing a quick visit to India or sitting comfortably on foreign shores, here is a quick checklist to keep in mind. 
 
· Cross check your eligibility for applying, compare bank rates and terms of the loan. 
· Study the market, shortlist a property and verify its details. 
· Have all the documents like the passport, valid visa and work permit, contract of employment, work experience certificate, salary certificate and statements of NRE/NRO accounts etc., ready in advance. This reduces approval and processing time. 
· Assign the POA to a trusted family member or friend. 
· Keep a track on repayment and smooth closure for a clean credit history. 
 
The Indian real estate market has much to offer today. For those sitting on foreign shores and looking to invest in India, there couldn’t be a better time. 
 
(The article is contributed by Housing.com) 
 
(Image: Thinkstock)

Here are dos and don’ts for NRIs who apply for home loans

We have some good news for <a href="http://www.businessinsider.in/searchresult.cms?query=NRI">Non Resident Indians (NRIs)</a>, who are yet fidgeting over new policies that the Modi-government has introduced, can claim tax benefits as per the <a href="http://www.businessinsider.in/searchresult.cms?query=DTAA">Double Taxation Avoidance Agreement (DTAA)</a>. This agreement fundamentally happens between two countries to help their citizens avoid tax related hazards. 
 As per an Economic Times report, India has signed the <keyword id="96355" type="ORGANIZATION" weightage="20" keywordseo="DTAA">DTAA</keyword> with several countries. As per the agreement, the provision of the <a href="http://www.businessinsider.in/searchresult.cms?query=income+tax">Income Tax </a>applies to the assessee to an extent they provide maximum benefits to him during the assessment. Provisions of the DTAA prevail over the statutory provisions. <keyword id="58225" type="ORGANIZATION" weightage="20" keywordseo="NRIs">NRIs</keyword> residing in any of the DTAA countries can avail of tax benefits provided under DTAA by timely submission of the following documents. 
 
<keyword id="896047" type="UNKNOWN" weightage="20" keywordseo="Tax-Residency-Certificate">Tax residency certificate</keyword> (TRC): The Tax Residency Certificate (TRC) can be obtained from the government of the country where the NRI resides. The mandatory information for TRC is the name, status (individual, company, firm etc), address, nationality, country, tax identification number of the person in that country, tax status and period for which the tax certificate is issued. The TRC containing details mentioned above should be duly verified by the government of the country or the specified territory of which the NRI claims to be a resident for the purposes of tax. 
 
If the TRC is not submitted within the timeline required by the deductor, the deductor (eg. Bank) will deduct tax on NRO deposits at the presently applicable rate of 30.9%. 
 
Self declaration-cum-indemnity form: This form is to be submitted in the format prescribed by the particular bank. Information such as account number, country of residence, period for which TRC is submitted, tax rate applicable under DTAA needs to be mentioned in the form. 
 
Other documents: The NRI is required to submit a self attested copy of PAN card, passport and visa. If the passport has been renewed during the financial year, a copy of PIO card will also have to be submitted. 
 
 Image: indiatimes

NRIs, here’s how you can claim tax benefits under DTAA

In a bid to strengthen the ties between India and the US, the Indian government plans to issue visa-on-arrival for tourists from the US soon. Indian Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> had made several announcements regarding the consular and visa issues at Madison Square Garden in New York City in the US. Now it’s time when we can expect some action to materialize the plans that were shared. 
		“Systems are in place to introduce visa on arrival for US tourists in October itself,” said the Prime Minister Office in a statement. 
	
		 Industry experts feel that the move will give a tremendous boost tourism industry in the country. “Extension of the Visa-on-Arrival facility to is an excellent step taken forward by India, and will certainly give a big fillip to inbound tourism, which is languishing far below its potential considering the diversity of experiences that India offers,” said <keyword id="332366" type="PERSON" weightage="20" keywordseo="Sharat-Dhall">Sharat Dhall</keyword>, president of <keyword id="143718" type="COMPANY" weightage="20" keywordseo="Yatra-com">Yatra.com</keyword>, an online travel portal, sometime back. 
		He had added that visa on arrival will allow travellers from the US to do impulse travelling to India and open up the country to tourists who decide at the last minute. “In addition, the proposal to allow travellers to apply for visas online and receive the electronic visa within 5 days, eases up the entire process of travelling to India. Arising out of this welcome step, we expect this to significantly boost demand for hotels, flights and land transport within India and act as a catalyst to economic growth as well,” noted Dhall. 
	
		 
		Interestingly, tourists from the US have accounted for a major portion of the inbound tourism in the country. According to the statistics by the tourism ministry, the foreign tourist arrival (FTA) from USA was over 10 lakh in 2013 registering a growth of 15.58% over 2012. 
	
		 Apart from issuing visa on arrival, the government will also issue lifelong <keyword id="49485" type="ORGANIZATION" weightage="20" keywordseo="PIO">PIO</keyword> (Person of Indian Origin) cards to Indian NRIs living in the US. 
		“All PIO cards are now valid for the lifetime of the cardholder, instead of 15 years. This effectively fulfils the Prime Minister's announcement that PIO cardholders would enjoy a lifelong visa to India,” stated the PM’s office. The PIO cardholders wouldn’t be required to visit a police station even when their India visit exceeds 180 days.

Visa On Arrival Plan For US Tourists To
Materialize By October End

The fancy villas with infinity pool or a private gymnasium in Gurgaon or those luxury apartments in the Pune that boast of a big closet, mahogany furniture and Italian floorings, <keyword id="386983" type="UNKNOWN" weightage="20" keywordseo="Luxury-homes">luxury homes</keyword> across the country has certainly been able to beat the slump in the Indian realty market. Catering the crème de la crème of the country, the luxury homes segment has ‘surpassed expectations, which were modest at best this year”. 
 “The times have changed more and more Indians are now travelling abroad regularly, and getting a taste of what the high life means in other countries. Consequently, their expectations now extend quite a bit beyond just a fancy town-side address. Though the address is still important, luxury home buyers now also expect to buy into a lifestyle that, by definition, only a few in the world can afford to have,” says Ashwinder Raj Singh, CEO of Residential Services at <keyword id="484198" type="COMPANY" weightage="20" keywordseo="JLL-India">JLL India</keyword>. 
 
The growing desire to live in fancy houses with the best in comfort has divided this segment in sub categories. BI India takes a look at them. 
 
Super luxury 
 
This category of homes is for uber-rich buyers who want nothing but the best. Mediterranean architecture- style interiors, a private gym, swimming pools, gardens and home automation are just a few things that this class of buyers wants. 
 
“Whether or not half of the facilities and technological embellishments they seek are available in the country or not is immaterial - today's Indian luxury home buyers are willing and able to pay for having them imported, and builders are happy to comply. The desire to stand out and be 'a cut above the rest' is creating a demand for super-luxurious homes wherein price is not a constraint,” say Singh. 
 
The prices of these properties vary from city to city, depending upon the average income levels of the buyers. 
 
Price tags: Anywhere between Rs 40 crore and Rs 100 crore in mega cities such as Delhi and Mumbai to Rs 2 crore to Rs 5 crore in Hyderabad and Kolkata. 
 
Branded Homes 
 
These are typically built by developers who expertise in building projects for the masses. But since, luxury homes are the hot cakes, hence, they too want a share of the pie. The developer ties-up with global realty builders who have experience in building luxury homes. 
 
“Apart from the knowhow, such brands also bring with them an aspirational value that immediately connects with the super-rich. The experience and brand equity advantage inherent in associating with major brands gives a developer's luxury project an extra edge,” notes Singh. 
 
And what do buyers get? Well, they are getting the rich international experience of luxury with an exotic label at an extravagant location! 
 
Out of the entire lot of luxury homes, branded luxury homes have been the most profitable proposition for both buyers and developers. 
 “Branded luxury homes are especially in vogue with <keyword id="58225" type="ORGANIZATION" weightage="20" keywordseo="NRIs">NRIs</keyword> and PIO HNI investors, who prefer such properties for the simple reason that they get an assurance of the quality of services which they are used to in their adopted countries. Also, with the backing of a well-known brand, they can expect better returns on their investments which are better than the prevailing market rates,” says Singh. 
 
Price tags: Anywhere between Rs 12 crore to Rs 25 crore in Delhi and Mumbai to Rs 1 crore- Rs 4 crore in Hyderabad and Kolkata. 
 
Affordable Luxury 
 
These are for the cattle class people who are rising above the line and are now viewed as ‘the aspiring luxury home buyers’. Singh tells us home buyers in this segment get most of the amenities that any super luxury home buyer gets; however, the spin is that they are shared. 
 
“The 'a class above' ethos still comes through, but the residents of such affordable luxury projects are definitely not rubbing shoulders with the city's richest and most influential people at 'snob value' addresses,” he says. 
 
A high salaried professional who belongs to the upper middle class and has never had any prior experience of luxury generally forms the core target audience of this segment. Hence, the onus of giving them the luxury experience lies on the developers. 
 
“In the considerably rarefied stratosphere of super-luxury, everything takes place at a more languid pace befitting of the 'idle rich' ethos. Exclusive super-luxury homes take longer to be built and also to be sold. This is a high investment arena wherein exclusive customizations are the norm, and both developers and buyers take their time to ensure that the deal results in complete satisfaction to all involved,” he adds. 
 
Price tags: Anywhere between Rs 10 crore to Rs 25 crore in Delhi and Mumbai to Rs 60 lakh- Rs 2 crore in Kolkata and Hyderabad. 
 
So the next time you scout for your perfect luxury home, you know where exactly you are! 
 
Image Credit: www.luxurious-estates.com

Want a luxury home? You might want to
check this out!

Want to know what is former Australian cricketer <keyword id="13561" type="PERSON" weightage="100" keywordseo="Steve-Waugh">Steve Waugh</keyword> is doing after retirement? He is selling houses, that too, in India! 
 
Waugh is now looking at stellar innings in <a href="http://www.businessinsider.in/searchresult.cms?query=real+estate">Indian realty</a> too and has set up a property platform through which he will be selling Indian properties to <a href="http://www.businessinsider.in/searchresult.cms?query=NRIs">Non Resident Indians</a> (NRIs) and <a href="http://www.businessinsider.in/searchresult.cms?query=PIOs">Persons of Indian Origin</a> (PIOs). 
 
His online real estate portal, waughglobal.com, will sell premium properties in India, including other services like banks finance, property management and other required assistance. 
 
Waugh said that Indian was a land rich in opportunities and he was excited to be a part of Indian real estate market. 
 
"We want like-minded partners and we will be looking for integrity, accountability and transparency while forming an alliance with Indian developers,” he said. 
 
Well, Waugh is not alone in this and has started the new venture with three other partners--Dean Honan, Simon Szewach and Neil Honan. 
Waugh’s realty will concentrate on selling <a href="http://www.businessinsider.in/searchresult.cms?query=luxury+apartments">luxury apartments</a> built by top 10-15 realty developers in India. It has tied up with 10 <a href="http://www.businessinsider.in/How-Facebook-is-helping-Indian-developers-grow/articleshow/48525469.cms">developers</a> and selling apartments at 91 projects across seven Indian cities. 
 
Waughglobal.com, which is live now, is currently selling properties of Godrej Properties, Kalpataru, K Raheja Corp, Lodha Group, Shapoorji Pallonji Real Estate, Sobha and Brigade Group. 
 "It's a large market. There are over 22 million NRIs across the globe with total $360 billion in investible assets. We are aiming to conclude deals worth $600-700 million by December 2016 and take it to $1 billion by financial year 2017 end," said Dean Honan, MD, <keyword id="3044021" type="UNKNOWN" weightage="100" keywordseo="Waugh-Global">Waugh Global</keyword>. 
 
(Image: Indiatimes)

This Australian cricketing great will now sell houses in India

Tata Group company, <keyword id="6359357" type="COMPANY" weightage="20" keywordseo="Titan">Titan</keyword>, will offer shipping services for its jewellery portfolio to customers in its overseas markets like US, UK, Singapore, Australia and the Middle East. The shipping services will be offered through the company’s eCommerce portal that aims to capture the Indian diaspora living abroad. 
	 
	“This new feature has been launched for a selected range of jewellery products, keeping in mind the interest of non-resident Indians (NRIs), People of Indian Origin (PIOs) in purchasing ethnic products and jewellery from India, especially during in the upcoming festive season,” said the company in a statement. 
	 
	The watchmaker has tied-up with international eCommerce payment firm PayPal for payments and United Parcel Service (UPS) for logistics for its international deliveries. The company also plans to scale its overseas shipping to more countries in the future. 
	 The company’s eCommerce portal offers a plethora of products from the house of Tata Group firms which include jewellery, watches, optical eyewear, sunglasses, backpacks, bags, perfumes, wallets and belts among others. The in-house brands that sell their products on the company’s online portal include <keyword id="138037" type="COMPANY" weightage="20" keywordseo="Tanishq">Tanishq</keyword>, Titan, <keyword id="746871" type="COMPANY" weightage="20" keywordseo="Fastrack">Fastrack</keyword>, Sonata, Xylys, Skinn, Titan Eye+ and international watches licensed under <keyword id="150619" type="COMPANY" weightage="20" keywordseo="Helios">Helios</keyword>. 
	 
	Recently, the company had revamped its online portal in terms of its design in order to woo a greater number of consumers. Titan launched its own eCommerce website in July last year. 
	 
	 
	Representional Image: Indiatimes.com

Titan Targets Indian Diaspora, To Offer Shipping Services Overseas

Amid the loud chants of “Modi, Modi” at <keyword id="8953" type="UNKNOWN" weightage="80" keywordseo="Madison-Square-Garden">Madison Square Garden</keyword> (MSG), India’s new <keyword id="71" type="POSITION" weightage="20" keywordseo="Prime-Minister">Prime Minister</keyword> <keyword id="6354477" type="PERSON" weightage="80" keywordseo="Narendra-Modi">Narendra Modi</keyword>, who is currently on a five-day visit to the US, addressed a gathering of thousands of people on Sunday. 
 
The Prime Minister received a warm welcome by a large population of India-American, inspired by Modi’s rags-to-riches story, along with a group of Senators. 
 The event did not restrict to the boundaries of the MSG as many NRIs also gathered at <keyword id="67784" type="ENTERTAINMENT" weightage="20" keywordseo="Times-Square">Times Square</keyword> to watch the Prime Ministers speech live, which was broadcast on a big screen there. Notably, Indian-Americans make up the third-largest Asian-American group in the US and lead these groups in terms of income and education, according to Pew Research Centre. 
 
At Business Insider India, we decided to bring some of the highlights of the much-awaited speech of Prime Minister Narendra Modi, which he delivered at the MSG. 
 
NaMo Greets Indian-Americans On Navratri 
Greeting people on the auspicious occasion of Navratri, Narendra Modi said that it is a phase to make yourself pure. 
 
"Navratri is the time to purify the self. The fact that I got to meet all of you during this auspicious time is my privilege," he told a rapturously cheering Indian diaspora at the MSG. 
 
Will Never Do Anything To Put You Down: PM 
At the MSG, Prime Minister Narendra Modi said that winning elections is not for sitting on a seat but a responsibility, noting that he hasn’t even taken a 15-minute break since taking over the helm of the country. 
 
Indians Create Magic With Mouse: Modi 
Prime Minister Narendra Modi once again stressed that India was once known as a world of snake charmers, now with help of 'mouse' the people of the country have woven magic in the world of information and technology (IT). 
 
"I was in Taiwan some years ago; someone wanted to ask a question and was hesitating. He asked if I won't feel bad, I said go ahead. He said I heard India is a land of black magic and snake charmers. I said no, our forefathers maybe would play with snakes but we play with the (computer) mouse," he said in his address. 
 
Modi Praises Success Of India's Mangalyaan Speaking of the ISRO's <keyword id="6625456" type="ORGANIZATION" weightage="20" keywordseo="Mars-Orbiter-Mission">Mars Orbiter Mission</keyword> (MOM), the Prime Minister said, "India is the first country in the world that has had a successful Mars mission in the first try. We reached Mars in a 
smaller budget than that of a Bollywood film. That is the talent of our country." 
 
PM Calls For ‘Make in India’ In a bid to boost up the <keyword id="6356076" type="UNKNOWN" weightage="80" keywordseo="indian-economy">Indian economy</keyword>, Prime Minister Narendra Modi invited the Indian-Americans and other US citizens to invest in India. 
 
“If you want human resources and low-cost production, then India is your destination. I invite you to the Make in India initiative,” he said 
 
Modi Announces Visa On Arrival 
Prime Minister Narendra Modi announced that PIO card holders, who have faced visa issues, will get lifelong visas. He said, "Those who stay in India for a long time have to go to the police station, now they won't have to." 
 
"I have been told that due to differences between PIO and OCI people face difficulties, especially those who have spouses who are not Indians. I am happy to announce that we will merge the PIO and OCI schemes and make it into one," he added. 
 
I Will Make Bharat Of Your Dreams: Modi 
Concluding his hour-long address, Narendra Modi thanked the 20,000-strong gathering gathered at the MSG for their love. 
 
"You have so much love for me, probably no other Indian leader has received this kind of love... Mein iska karz chukaoonga (I shall repay this debt), to make the Bharat of your dreams," Modi said amidst the loud chant of "Modi, Modi". 
(Image: FB page of Prime Minister Narendra Modi)

You Searched For "NRIs and PIOs" and got 9 results

PIO-OCI merger: What aimed to simplify NRIs life has added more to complexity

BI India Bureau

Non-taxpaying NRIs to be taxed in India: FM

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Here are dos and don’ts for NRIs who apply for home loans

Guest Author

NRIs, here’s how you can claim tax benefits under DTAA

BI India Bureau

Visa On Arrival Plan For US Tourists To Materialize By October End

Purba Das

Want a luxury home? You might want to check this out!

Purba Das

This Australian cricketing great will now sell houses in India

BI India Bureau

Titan Targets Indian Diaspora, To Offer Shipping Services Overseas

Purba Das

NaMo Fever Grips Indian-Americans At Madison Square

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