| inbluevt | Date: Sunday, 2013/08/11, 4:19 PM | Message # 1 | DMCA |
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INDIA’S diaspora of 25m people is something to behold. In colonial times Indian labourers and traders spread across the world, from Fiji to the Caribbean. A second wave of Indians left between the 1970s and mid-1990s, when the economy was in a semi-socialist rut. Migrant workers
rushed to the Arabian Gulf and South-East Asia, then booming. Educated folk and entrepreneurs fled to the rich world. Plenty struck gold, including engineers in Silicon Valley and Lakshmi Mittal, boss of
ArcelorMittal, a giant steel firm. Often they now have little to do with India beyond sending cash to relatives and groaning as the once-vaunted economic miracle fades.
Yet alongside this distant diaspora, a network of people and places is more directly engaged with India’s economy. Its most conspicuous element is the plutocrat who owns firms in India, but like his Russian and Chinese peers shops in Paris, educates his children in America and Britain and sometimes has foreign citizenship: Cyrus Mistry, the boss of Tata Sons, India’s biggest firm, has an Irish passport. At the network’s core, however, is not the gilded elite but offshore hubs, including Dubai and Singapore, often with sizeable Indian populations and with their own economic strengths.
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See related article: http://progressivemind.ucoz.com/forum/4-1206-1
Message edited by inbluevt - Sunday, 2013/08/11, 4:23 PM |
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