: “Ghar Wapsi” of non-resident Keralites needs to be encouraged to change the remittance-economy of the State, said Union Minister for Railways Suresh Prabhu.
The remittance-economy of Kerala had made the State rich, but turned it into a consumerist society. The challenge lies in turning it around to change the growth profile, he said, after launching the website of Make in India, Make in Kerala at the summit organised by Society for Integrated Growth of Nation (SIGN) on Sunday.
Mr. Prabhu said creating new icons of success by unshackling the regulatory regime of the industry could help realise the latent talent here. Making the NRKs the stakeholders of the projects here would definitely help the State’s economy take a different trajectory and create more jobs for the youth of Kerala. About 40 per cent of the $70 billion that come in as remittances belong to NRKs, he said. The Union government is also trying to get a better deal for the NRIs, who make remittances but have to give up a chunk of their earnings through the foreign exchange procedures, said Mr. Prabhu. Taking up environment-friendly enterprises is important as the State is blessed with natural beauty, said Mr. Prabhu. But not having any development in the name of environment protection does not help the people utilise their own resources properly, he added.
