The PIO card provided those foreign nationals who could establish at least a third generation tie to Indian origin with travel, work, and residential purposes in India for a 15 year period
Implemented in 2005, the OCI card carried more expansive benefits compared to the PIO card, and was valid for the lifetime of the holder
Prime Minister Narendra Modi had announced in 2014 that the PIO and OCI cards would be merged and the Indian diaspora would be given maximum possible benefits
New Delhi, June 28, 2017: The last date has been extended for six months to apply for the conversion of Person of Indian Origin (PIO) cards to Overseas Citizens of India (OCI) cards to December 31 this year. The facility was available till June 30, 2017 earlier.
According to an official, “The Home Ministry has decided to extend the date for submission of the application for registration as OCI card holder by the erstwhile PIO cardholders till December 31, 2017.”
It should be mentioned that this was for the fourth time the centre has extended the date for conversion of PIO cards to OCI cards since March 31, 2016.
In 2002, the PIO card was first implemented as a benefit to those foreign nationals who could establish at least a third generation tie to Indian origin and was valid for travel, work, and residential purposes in India for a 15 year period.
Implemented in 2005, the OCI card carried more expansive benefits compared to the PIO card, and was valid for the lifetime of the holder.
According to PTI reports, Prime Minister Narendra Modi had announced in 2014 that the PIO and OCI cards would be merged and the Indian diaspora would be provided with maximum possible benefits.
Official reports have shown that the simultaneous existence of PIO and OCI cards have led to confusion among People of Indian Origin residing abroad.
– prepared by Durba Mandal of NewsGram. Twitter: @dubumerang
Prime Minister Narendra Modi on Friday said that his government had made doing business in India easier, cheaper, faster and smarter with his term accounting for almost 45 per cent of the Foreign Direct Investment (FDI) that the country received in the last 18 years.
Speaking at the inaugural function of the Vibrant Gujarat Global Summit 2019 here, he said India was now one of the most open countries for FDI with over 90 per cent approvals put on the automatic route.
“In the last four years, we have received FDI worth $263 billion. This is 45 per cent of the FDI received in last 18 years,” Modi told the gathering.
He said India was among the top 10 FDI destinations.
Modi, who is on a three-day visit to his home state to throw open his pet biennial Vibrant Gujarat Global Summit, said the India of today was a land of “immense opportunities” being the only place that offered democracy, demography and demand.
“Fifty cities in India are ready to build metro rail systems. We have to build 50 million houses. The requirement of road, rail and waterways is enormous. We want world class technologies to achieve our goal in a faster and cleaner way. India is thus, a land of immense opportunities.” he said.
The Prime Minister said the challenge for India, as in most emerging economies, was to grow horizontally as well as vertically to ensure that the benefits of development spread to regions and communities that have lagged behind while also meeting enhanced expectations in terms of quality of life, quality of services and quality of infrastructure.
“We are well aware that our achievements, here in India, will directly impact one sixth of humanity.”
Modi said his government had removed the barriers which were preventing India from achieving its full potential and now it was ready for business like never before.
The government has made doing business easier. cheaper, faster and smarter, he said.
“In the last four years, we have jumped 65 places in the global ranking of World Bank’s Doing Business Report. From 142 in 2014 to 77 now, but we are still not satisfied. I have asked my team to work harder so that India is in the top 50 next year.
“We have also made doing business cheaper. The historic implementation of Goods and Services Tax and other measures of simplification and consolidation of taxes have reduced transaction costs and made processes efficient.
“We have also made doing business faster through digital processes, online transactions and single point inter-faces,” he said.
He said his government had made doing business smarter by insisting on IT based transactions and digital payments including direct transfer of government benefits.
Modi added that he understood that being a young nation, India needs to create job opportunities and better infrastructure, which are both linked with investments.
“Therefore, in recent years, there has been unprecedented focus on manufacturing and infrastructure,” he said.
Listing the achievements of his government, he said for the first time, India had become a net exporter of electricity, had installed transmission lines at an unprecedented pace and had doubled the speed of road construction with rural road connectivity now at 90 per cent.
“At 7.3 per cent, the average GDP growth, over the entire term of our government, has been the highest of any Indian government since 1991. At the same time,the rate of inflation at 4.6 per cent is the lowest for any Indian government since 1991, when India began its process of liberalisation,” he said.
Modi had conceptualised the summit as Gujarat Chief Minister in 2003 to position the state as an ideal investment destination after the 2002 riots. (IANS)