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Northern Indian Builders could not attract NRIs in their North American Exhibition

Toronto, Oct. 20, 2005
NRIpress

You may be aware that more than 20 builders from Northern India had a exhibition in San Francisco 8th- 9thOctober 2005, Chicago-12th - 13thOctober 2005, and Toronto:15th - 16th October 2005, in Toronto Airport Marriott Hotel, 901, Dixon Road, Toronto Ontario for investment in Real estate in India

  • Chicago was a big failure to attract NRIs

  • In Toronto, the exhibition was located in a very busy area. NRI's population is near about 30,000-40,000 near this location. More than 200 hundred real estate and mortgage agents are also working in this area. NRIs attendance was very poor on both days.

Builders did their job in a very professional way. They decorated their booths with colored pictures of buildings. They had nice brochure packages and CD's to deliver to NRI customers.

Our reporter tried to find the answers from builders to the reason why there was poor attendance of NRIs. Some builders were very disappointed and others said, we are here to make people aware about our projects.

Believe it or not:

  • Now, Indian entrepreneurs are in the position to produce products but have a great deficiency in marketing to sell their products to NRIs.

  • Most of the Indian entrepreneurs have an attitude that they are too smart and know everything to sell their products. This is not true. They must understand that the Middle Eastern market is different from the Canadian and UK markets, UK and Canadian markets are different from USA markets. In USA, more than 80% NRIs are professionals and they having money to invest in every field. Mostly of these professional NRIs are scattered in USA and go through the internet to make any investment.

  • Because of our politician's promises over the past 30 year and our judicial system's failure to keep rule and law in order, Indian entrepreneurs are having difficulty to convince the investors. We understand that the Govt. is trying to change the policies to attract investors but they are very slow to implement these policies. It is Democracy that makes groups and political partices close their eyes to cruelties on the weaker sections. India''s high number of pending cases in court - lowers to upper court. ( 5-10 years ) India''s land reforms and speediness needed to tackle land registration. ( 2-5 years ) Link India with super highways and roads to connect rural villages. ( 5-10 years

  • Private Companies and Indian entrepreneurs are working in a very honest way to grab NRI market and may like to jump in global market but there are some draw backs

    Click here: http://www.nriinternet.com/INDIA/Shinning_India/3_Im_sick.htm
    Click here: http://www.nriinternet.com/NRIrealtors/INDIA/News2005/Jan_/13_300Malls.htm

Who says NRIs have no interest to buy properties in India?

There are over 20 million NRI's around the world, the third biggest NRI community globally after the Chinese and Irish. There are 150,000 Indian millionaires outside of India, and they have a total of US$360 billion in surplus funds available for investment.
NRIs generate more than US$100 billion in income each year; and they remit around US$30 billion every year to their native country. In the Arabian Gulf area, for instance, there are some 4.5 million people of Indian origin; they send US$ 4 billion in remittances to their relatives in India each year.
NRI (non-resident Indians) had invested $ 34 billion in the last financial year 2004, including $ 7 billion in fixed deposits

USA:

  • There are now more than 1.8 million people of Indian origin in America. They reflect the multi-ethnic, multi-religious and multi-lingual society of India
  • Four out of 10 Silicon Valley startup companies are run by Indians. 43.6% are employed in managerial and professional specialties
  • As per an estimate of the about 130,000 convenience stores in the United States, nearly 80,000 are Asian-Americans.
  • In the US, AAPI represents more than 40,000 physicians and 15,000 medical students, interns, residents and fellows of Indian origin in the US.
  • The median income of the Indian American family is $60,093 as compared to the national median income of $38,885, and their buying power is a whopping $20 billion. Over 5,000 Indian Americans serve as faculty in universities across America, interacting with the mainstream of America. Over 300,000 Indian Americans work in the information technology field, with an average income of $200,000 per year.


Conclusion:

  • In North America, most of the successful NRIs are working as a team. Generally NRI individual businessman, worker, or sales person cannot afford time to sell your product because he/she needs immediate income for survival. Joint venture with bigger organization or by opening your own office in each city may be the only solution.

Gary Singh
Singh@NRIinternet.com


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