Hubli: Infosys founder NR Narayana Murthy has insisted that the period of stay of non-resident Indians in India should be reduced to 182 days.
The 14th Development Dialogue Conference was held yesterday in Hubli, Karnataka on behalf of Deshpande Foundation. Infosys founder Narayanamurthy said:
As of 2019-2020, Non-Resident Indians (NRIs) stayed in India for 182 days in a year. But under the Finance Act, 2020, the period of stay for NRIs has been reduced to 120 days. There is no benefit for India.
Therefore, Union Finance Minister Nirmala Sitharaman should take a step to allow NRIs to stay in India for 182 days as before. There is nothing wrong in increasing this period to 250 days. India will not get any additional revenue due to reduction in NRI stay days. There are more than 3 crore NRIs in the Middle East, USA, UK, Canada, Singapore and other countries.
When they come to India, there will be no harm in staying longer. On the contrary, India will get more benefits. We will have more time to coordinate with them. Also, longer stay of NRIs here will have a big impact on startups in India. My request to Finance Minister Nirmala Sitharaman, political leaders and diplomats is to welcome non-resident Indians. They can add more value to this country. They didn’t ask us anything else. Thus spoke Narayana Murthy.