1. Understanding the Real and Virtual India!
There are two India's, one where we live and the other is the Virtual India, with an estimated GDP of US $ +320 billion per year, where about 20 to 25 million NRI's and PIO's live. Their hearts are in India and they are emotionally tied to India. If we can attract them and woo them, they could be a good source of funding projects for India's growth plans. The Chinese have learnt the art of wooing and managing their NRC's who number about 45 to 50 million. Last year the NRC's invested about US$ 70 billion into China + Hong Kong + Macau. India, inspite of its best efforts, received only US$ 0.2 billion from NRI's last year! India inports nearly US$ 8 to 10 billion worth of Gold every year. This means that we have imported nearly US$ 96 to 120 billion worth of Gold, in the last 12 years, since liberalization of the economy. We should try to find ways to 'funnel' this retail investment into more economical areas, to benifit the Nation and it's people.

2. How has China managed to get large FDI inflows from the NRC's?
Maybe, there is a lesson to be learnt by us, as to how China is able to woo its NRC's! The largest banks in Hong Kong, HSBC and Standard Chartered, may be able to throw some light on how the NRC's have been able to invest so much in to China and Hong Kong.

3. India's POT of GOLD how can we get it back?
It is estimated that a large amount of Indian Money, is lying outside India, due to poor governance & administration of India and due to past regimes of controls and high taxation. The quality of our Governance & Administration is still not to World Class standards. If India can put its House in Order, to near World Class Standards, a substantial part of this money could easily come back to drive the Indian economy. Estimates of funds lying outside range from US$ 100 billion to US$ 400 billion! India's total foreign debt is about US$100 billion. The Indian Government should plan for 30 year Infrastructure Bonds, with a coupon rate of 4 to 6%, both for domestic Citizens as well as for NRI's, with tax breaks and incentives. No questions should be asked about the source of funds. India requires US$ 180 to 200 billion for connecting the water ways and rivers, for Ports, Airports, Railways and roads. After the 2nd World war, when Germany was devasted, the German Government came out with a similar scheme to build the Nation. the interest rates are very low in the international markets and interest rates are also dropping in India. It may be a good time to consider such proposals.

4. Only Good Governance and Effective Administration
can attract higher FDI into India and induce money to flow back.