New visa for entrepreneurs and researchers with the liberal regime is likely to be launched by India as per the report of the Economic Times. The discussion for the new visa was being discussed at the highest level on the proposal of the Niti Aayog, said a high-ranking government official. The new visa could be offered by India in the future to a chosen few depending upon certain conditions, as quoted by the Travel Biz Monitor.
The official elaborated that human capital is amongst the most crucial factors for the nations’ innovation quotient. Promoting immigration of highly skilled talents will bring in healthy competition. It will also help to better the standards of skills in the nation, added the government official.
The concept is to set up a national system for offering visas to entrepreneurs that will be based on diverse factors. This includes ease of dissemination of services and products, a potential for job creation and innovation in technology. International centers to facilitate certain initial handholding and document verification could also be established by India. It is aimed to complete the project feasibility analysis by 2018 and put in place the necessary mechanisms by 2020.
As of now, business and entrepreneur immigrants to India are required to return to their nation of origin for visa renewals as there is no option for permanent residence. Research visas are offered by India but most overseas nationals choose traveler permit if they are arriving for informal research and stay for less than 6 months. The reason is that research visa process in India is delayed and intricate.
Tarun Khanna led innovation and entrepreneurship expert panel had also suggested for optimizing the talent pool of NRIs for expertise, skill development, and mentorship.
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New visa for entrepreneurs and researchers with the liberal regime is likely to be launched by India as per the report of the Economic Times.