Role of Diaspora in India's Socioeconomic Development . According to the World Bank, remittances can (i) reduce the poverty of receiving families, with spillovers on other families; (ii) increase investments in education and healthcare as well as other productive activities; (iii) reduce child labor; and (iv) increase entrepreneurship. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay Investments - In addition to remittances, diasporas contribute to the economic development of their country of origin through foreign direct investment (FDI) and transnational entrepreneurship, including support for entrepreneurs, start-ups and small businesses in the country of origin. They may be more likely to invest in economic sectors that others would consider high risk, simply because they have better knowledge and relationship opportunities that other investors lack. Diaspora investments may be driven not only by profit motives but also by long-term considerations of establishing a base in home countries. They are likely to be better informed about the skills and requirements of the domestic workforce and the type of training required by the local workforce. Third, very often the factors that influenced the diaspora to migrate from their homelands can influence the extent of their involvement and contribution to the development of their home countries. Knowledge transfer of diasporas - Constructive contributions of diasporas to development in their country of origin are the transfer of acquired knowledge. These diasporas are a great source of transfer of knowledge and technical skills in the form of "brain gain". Regarding knowledge exchange, members of the diaspora can act as important interlocutors between technology and the country of origin. They can contribute to these not only through permanent repatriation but also through short-term return. Diaspora Philanthropy – One of the most important ways that diaspora contribute to their home countries is through philanthropic efforts in many areas. Philanthropy has a critical role to play in advancing global equity. Diaspora support: Diaspora organizations (and sometimes even individuals) are seen as becoming increasingly vocal and influential in their countries of origin and settlement. They increasingly seek to influence the government, the media, the corporate sector and other important groups and thus speak out on a range of issues affecting their homeland. Please note: this is just an example. Get a custom paper from our expert writers now. Get Custom EssayIncreased demand for Indian goods abroad – The diaspora has catalyzed the demand for Indian goods in their countries of settlement. The products range from food, fashion to the Indian entertainment industry. This has increased Indian exports, especially from the handloom and handicraft sector.

Topic > Role of Diaspora in India's Socioeconomic Development . According to the World Bank, remittances can (i) reduce the poverty of receiving families, with spillovers on other families; (ii) increase investments in education and healthcare as well as other productive activities; (iii) reduce child labor; and (iv) increase entrepreneurship. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay Investments - In addition to remittances, diasporas contribute to the economic development of their country of origin through foreign direct investment (FDI) and transnational entrepreneurship, including support for entrepreneurs, start-ups and small businesses in the country of origin. They may be more likely to invest in economic sectors that others would consider high risk, simply because they have better knowledge and relationship opportunities that other investors lack. Diaspora investments may be driven not only by profit motives but also by long-term considerations of establishing a base in home countries. They are likely to be better informed about the skills and requirements of the domestic workforce and the type of training required by the local workforce. Third, very often the factors that influenced the diaspora to migrate from their homelands can influence the extent of their involvement and contribution to the development of their home countries. Knowledge transfer of diasporas - Constructive contributions of diasporas to development in their country of origin are the transfer of acquired knowledge. These diasporas are a great source of transfer of knowledge and technical skills in the form of "brain gain". Regarding knowledge exchange, members of the diaspora can act as important interlocutors between technology and the country of origin. They can contribute to these not only through permanent repatriation but also through short-term return. Diaspora Philanthropy – One of the most important ways that diaspora contribute to their home countries is through philanthropic efforts in many areas. Philanthropy has a critical role to play in advancing global equity. Diaspora support: Diaspora organizations (and sometimes even individuals) are seen as becoming increasingly vocal and influential in their countries of origin and settlement. They increasingly seek to influence the government, the media, the corporate sector and other important groups and thus speak out on a range of issues affecting their homeland. Please note: this is just an example. Get a custom paper from our expert writers now. Get Custom EssayIncreased demand for Indian goods abroad – The diaspora has catalyzed the demand for Indian goods in their countries of settlement. The products range from food, fashion to the Indian entertainment industry. This has increased Indian exports, especially from the handloom and handicraft sector.