The Government says, it is closely tracking the fallout of the current financial crisis in Dubai. It has directed its missions in the region to provide all necessary help to vulnerable sections of the Indian workforce in the Gulf that may be affected by the crisis. <br/><br/>The Overseas Indian Affairs Minister Mr.Vayalar Ravi said in New Delhi that his ministry is not anticipating a surge of returnees to India from the region, following the debt debacle.<br/><br/>But in a related move, the Overseas Indian Affairs Ministry also plans to soon announce a comprehensive package to rehabilitate overseas Indian workers who have returned to the country, following job losses due to the economic downturn.<br/><br/>Indian Consul General in Dubai Venu Rajamony has said that recent announcement by government-owned holding company Dubai World seeking extension of repayment of debt till May next year had no direct impact on India and there is no cause for any kind of panic. <br/><br/>According to an estimate of Indian Embassy in UAE nearly twenty lakh Indian nationals reside in the UAE, with over 65 percent of them falling in the blue-collar category <br/>
News On AIR | November 30, 2009 2:37 PM
Govt closely tracking Dubai financial crisis fallout