The State government has decided to take lifetime membership in the Overseas Indian Facilitation Centre (OIFC) set up by the Ministry of Overseas Indian Affairs (MOIA) in partnership with the Confederation of Indian Industry (CII).
“The Indian diaspora from Telangana and its ties with the State require continuous nurturing and support for mutual benefit.
The Indian diaspora can play a major role in enhancing investments, value addition, industrialisation and transfer of technological knowledge,” the government said in a statement Friday.
The Overseas Indian Facilitation Centre (OIFC) set up in 2007 has a mandate to promote overseas Indian investments in India, facilitate business partnerships and assist Indian States to project investment opportunities to overseas Indians to provide advisory services to PIOs and NRIs.
It is governed by a Council of prominent overseas Indians, industry leaders and senior policy makers of the government.
The MOIA has stated that State governments can avail lifetime membership facility at a one time cost of Rs.10 lakh (excluding service tax).
Accordingly, the TS government has accorded sanction for Rs.11.30 lakh for lifetime membership.
Source: The New Indian Express