Narayana Murthy urges govt. to bring back old regime for NRIs

N.R. Narayana Murthy, founder of Infosys, made an urgent request to the Union Finance Minister, Nirmala Sitharaman, to reinstate the old regime that allowed non-resident Indians (NRIs) to stay for 183 days in the country, as reported by ET. “Though they have no reason to do so, NRIs have a heart for the betterment of India. For the same reason, they come and spend time here,” said Murthy, while speaking at the 14th ‘Development Dialogue’ convention of the Deshpande Foundation in Hubballi.

“They come with tremendous value…We should welcome them with open arms and reduce frictions for them,” he added. The recent decision to roll back the stay of NRIs from 180 days to 120 days per financial year has decreased their presence by 63 percent, according to Murthy. “My humble request to the Union Finance Minister is to bring back the old regime in this regard and allow the NRIs who will make life of the local people better to stay for a longer period,” the Infosys founder said.

Murthy added, “The objective of turning the dreams of the founding fathers of our country to provide the poorest child in the remote village with access to good education, healthcare, nutrition, and shelter would be achieved fast through embracing NRIs, who come with tremendous value.”

“There is nothing wrong if the stay of NRIs is increased to 250 days. The country would only benefit as their presence will make the nation better. It will have an impact on the startups as well,” he added.

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

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