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View Full Version : Mumbai Muslims making fortunes in Asia



sonz
01-12-2007, 03:19 PM
Almost 25% of Indian Muslims from Mumbai head for West Asia in search of jobs. The majority are laborers.

Unfortunately, the economic contribution of this workforce goes unrecognized because the remittances it sends is not re-invested into the economy, according to Rehmatullah, chairman of the All India Council for Muslim Economic Upliftment (AICMEU).

“The labour class Muslims working in West Asia contribute greatly to our foreign exchange earnings but the money they send is not pumped back into the country's money market," Rehmatullah explained.

"Their families are not educated enough to invest the money. A lot of it goes into the family’s consumption,” he added.

According to Overseas Indian, the official e-magazine of the Ministry of Overseas Indian Affairs, more than 63% of remittances come from Saudi Arabia.

About $415 billion was remitted by Indian expatriates between 1975 and 2002, according to official figures. And this sum is expected to rise in the coming years.

Almost four to five lakh people go to the Gulf from Dubai, Qatar, Bahrain and Muscat every year.

Most of these remittances go to the Indian city of Kerala, followed by Andhra Pradesh and West Bengal.

Although India has the second-largest population of Muslims in the world, a recent government-sanctioned report showed that Indian Muslims are suffering from discrimination.

The report, which reviewed the socio-economic and educational status of Muslims, concluded that the literacy rate for Indian Muslims is lower than the national average and the status of women is worse, with many unaware of their rights.

The study also showed that Indian Muslims are severely under-represented in their own constituencies, the police, army and are almost non-existent in the country's spy agencies.

-- AJP and Agencies
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