Investment of $1.3 billion from Telugu speaking NRIs – Movie Mint

Investment of $1.3 billion from Telugu speaking NRIs

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The chief minister of Andhra Pradesh, N Chandrababu Naidu has instigated a new plan to be chalked out involving Telugu speaking non Indian residents with the goal to collect 1.3 billion USD in a year to be invested as a part of AP development through large investments under Non Resident Telugu inc ( NRT ) initiative. This is an individual or rather independent corporation which will target to associate the Telugu speaking group of NRIs under a single roof on a common platform.

The state government is keen on collaborating  nearly 1 million Telugu families living across the world, and encourage them to donate $1,300 extra in addition to the  existing amount of $5,000 each year, making it 10,000 crore. The plan involves these NRTs providing Telugu families an investment arena and help in aiding those who look for support and assistance from the state government. It has been said that most of the families are willing to drain out money for this purpose but are demanding for transparency in the system.

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