Reasons Why NRIs Should Invest In India
India is among the few nations which have been projected as one of world’s upcoming economic powerhouse. As per a PwC report, India is expected to be the second-largest economy in the world by 2050. This implies that investing in India stands as a lucrative option for investors. For any NRIs, it is critical to know what kind of accounts they should have to begin investing. Many don’t realise that using their savings account is illegal once they move out of the country. During such situations, it is crucial to convert savings bank account into an NRE or NRO account. An NRE account enables NRIs to seamlessly withdraw and deposit money in the currency of the country they have moved to and the Indian currency. On the other hand, an NRO account is only partially repatriable. This implies one can only partially withdraw money in a foreign country. It also only allows deposit of the Indian currency. Listed down are a few reasons why an NRI should invest in India.