Posts Tagged ‘Indians’

Dubai Shakeout Leaves Thousand of Indian Families Worried

Dubai Debt Fallout Leaves Thousand of Indian Families Worried

The $59-billion debt woes of state-run Dubai World, one of the largest global conglomerates, has left thousands of Indian families worried, as the region accounts for half of the country’s $25-billion remittances.

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Gulf countries employ five million Indians, out of the 25 million total strength of the Indian diaspora in 130 countries, and Dubai being a key driver of the region’s economy, a shakeout there is seen unsettling the job market — and the incomes of relatives.

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Market experts have expressed that there will be at least 25-percent contraction in the job market and there may be a ripple effect on most Middle East countries because of Dubai World bust.

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They also said that Middle East meltdown is not a last month generated phenomena ย rather it has been there for the past one year.

Infact, people have been coming back to India for the past one year.

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Market experts and policy makers have expressed concern over the prospect of Indians employed in the Gulf losing their jobs.

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However they insist that much would depend on Dubai world Bustโ€™s impact on the real economy there and employment.

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Many relatives of Indian expatriates in the Gulf have expressed concern and worries over the prospect of the loss of jobs in Gulf ย in the wake of Dubai World Fiasco !!

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Many of families have taken huge amount of home loans to construct houses or to buy flats.

(With the dependence of paying it through the remittances they generally receive from their relatives working in Gulf).

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Now, they have worries like if their close family member working in Gulf loses the job then it will get impossible to repay the loan amount in full.

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In Andhra Pradesh, which accounts for the largest share of remittances from the Gulf after Kerala, the realty industry feel there is an underlying worry that the Dubai World episode may just be the tip of the iceberg.

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Experts over there feel that things might go from bad to worse when the Dubai companies announce their financial results in December and January and many more could lose jobs.

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Analysts, nevertheless, maintained that while the future plans of Dubai World in India may be affected, the existing ones may not suffer much.

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INDIA Gears Up to Celebrate the Glory of India’s 62nd Independence Day :)

India's Independence Day

Independence Day โ€“ August 15, 1947, the most important day in the history of India, the day when the long suppressed nation found utterance. ๐Ÿ™‚

It was the day when India got independence from the British rule.

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The stroke of the midnight brought with it a ray of new hope for India, as our first Prime Minister, Jawaharlal Nehru said, the world was asleep but India awoke to life and freedom.

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A new nation was born! ๐Ÿ™‚

Since then August 15 is celebrated as the Independence Day in India every year.

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Independence Day is celebrated all across the nation with great enthusiasm; the day is marked with the Indian flag hoisting ceremony at Red Fort and Prime Ministerโ€™s address to the nation.

All the state buildings and structures of national importance are adorned with โ€˜Tricolorโ€™.

In the evening , sky is dotted with hundreds of colorful kites symbolizing the freedom. ๐Ÿ™‚

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Indians around the world would celebrate their Independence Day once again tomorrow on Aug. 15 – the day, 62 years ago, when the Asian country shook off British rule.

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On Saturday, about billions of Indians are expected to gather in India and outside India to celebrate our 62nd Independence day. ๐Ÿ™‚

“Sixty years ago we started a new journey.
We were inspired by Mahatma Gandhi‘s thoughts and views.
In the true sense we will have freedom and independence only when we get rid of poverty.”

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Schools, Collages and offices all over in India are preparing to gear up for the celebrations with full fervor and up with rehearsals for the cultural activities to be performed after flag hoisting ceremonies,tomorrow.

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Police personnel, NCC cadets and Defence forces all across India are up with the practice marching at Parade Grounds in rehearsal ahead of Independence Day celebrations.

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Artisans all over India are fully occupied with the task of preparing mementos on Mahatma Gandhi and other freedom fighters in order to make it available to consumers who would rush in to buy the same.

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Same way, the stitching of national flags, our Tricolour, are on at workshops with full vigor all over in India, to meet the demands for Indian Flag tomorrow.

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Young boys and Girls are waiting keenly for tomorrow to paint their faces in tri-colour as Independence Day celebrations fervour gets in the air.

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Amid intelligence inputs about possible terror attacks ahead of Independence Day, an impregnable ground-to-air security apparatus is being put in place in the capital to pre-empt any such strikes.

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Thousands of personnel of Delhi Police and paramilitary are being deployed in and around the city, especially near Red Fort from where Prime Minister Manmohan Singh will unfurl the tricolour and address the nation.

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However nothing can deter our spirits to celebrate our 62nd Independence day.

We should be really Proud of INDIA and about the contribution of indians to the world but in the midst of our celebrations we must not forget about our Martyrs ๐Ÿ™‚

As well we need to remember that we all hindu, muslim, sikh, christians, buddhists are brothers [:)]

Long live those who stands for “Qoami ekta” and โ€œUnity in Diversityโ€ ๐Ÿ™‚

Hail to Our Father of Nation and all those Martyrs who got us our Freedom.

Proud To Be an INDIAN. ๐Ÿ™‚