3rd September 2019 – The official launch of the OCI Investor Forum was announced by Dr M (BK Modi), Global Thought Leader, Honorable President of the World Federation of United Nations Associations (WFUNA) & Chairman, OCI Investor Forum. The forum will concentrate on encouraging OCIs to invest globally in different business sectors in India. The suggested investment size to be produced would be about 50% of the present GDP.
The OCI forum is a distinctive effort to develop a social strategy to business investment and to increase growth in recognized areas while supporting technological and entrepreneurial innovation in a number of sectors. The OCI Investor Forum will undertake investments in the Kashmir region to create 100 Global Wellness Hotels in Kashmir as its first project. Two seminal events to encourage investment in Kashmir took place in May & June 2019 in New Delhi and Srinagar, prior to the government’s announcement on Article 370.
The OCI initiative will help develop a’ New India’ as a USD 5 trillion economy by acting as a bridge to enable worldwide Indians to’ give back to their country.’ Also because OCIs may be the most politically neutral community because they are not allowed to donate to any party. This guarantees that their investments are motivated more favorably than politically.
Dr. Modi stated that Foreign Direct Investment is the key to developing a USD 5 trillion economy as envisaged by the present government, and it is necessary to support ways that support clean money from OCIs. OCIs can play an impactful role in establishing a free corruption, New India, but the government must encourage them through numerous policy initiatives. With the OCI Investor Forum, we aim to increase GDP by 50% over the next 5 years by investing in different sectors such as health and wellness hotels, Exponential Technology and Hospitality etc.
OCIs are, in a sense, India’s worldwide ambassadors who have gained systemic understanding in other countries about wealth creation, investment, and business growth. The OCI Investor Forum will partner with individuals and organisations such as AAPI, AAHOA, SICCI etc. to give much-needed clean capital and thorough insight into the economy’s worldwide markets.
To guarantee that OCIs can tend to their investments, they should be permitted to spend more time in the nation to create more lucrative Indian businesses and engage in the country’s economic development. The forum suggests changing the allowable threshold to allow OCIs to remain in India without influencing their status. OCIs can currently remain in the nation for 182 days without being taxed on their outside India earned worldwide revenue. To encourage them to invest in the nation, this limit must be improved to at least 270 days.
One of the key points behind the forum’s creation is to protect the interests of OCIs seeking to invest in India and to guarantee that they have the most convenient, safe and effective policy rules supervising their investments. Policy choices must be taken to guarantee that immunity and relaxation are given to OCIs for the convenience of doing business in the nation. To guarantee that they can contribute economically to their best, they must be provided a distinct category of’ Diplomatic’ and not be clubbed with either NRIs or foreigners. Therefore, since OCIs are subject to their own country’s legislation, they should be outside the scope of investigative bodies such as IT, ED, and CBI etc.
The forum also suggested to remove the FDI cap for OCI investment across all sectors and to create state-sponsored sovereign funds to invest in.
About Global Citizen Forum
The Global Citizen Forum (GCF) is an initiative of Dr M (BK Modi), a world leader in thinking and a future entrepreneur. The Global Citizen Forum (GCF) has become a true force for public change and action with 2 million participants spread across the globe. GCF has been trying to support public opinion on problems affecting the planet or its people in different countries through its numerous events and conferences for over 5 years. Business and economic investment are essential to building a better world. GCF has established the OCI Investment Forum to implement favorable public opinion of global citizens in a true, concrete shift. This new unit will concentrate on gathering, curating and initiating conversations on investment by overseas citizens of India (OCI) across different business sectors and India.
GCF is confident that this social approach to business investment will increase development in identified regions while encouraging technological and entrepreneurial innovation in identified sectors.
