Diaspora Entrepreneurship
Diaspora entrepreneurship refers to the business activities initiated by individuals who have migrated from their home countries yet maintain strong cultural and economic ties to those nations. This unique form of entrepreneurship enables these individuals to leverage their diverse experiences and cross-border networks, creating economic opportunities that contribute significantly to both their host countries and nations of origin. With studies showing that immigrants are responsible for founding a significant portion of startups—and that diaspora communities send substantial remittances—it's clear that their contributions extend beyond personal profit to include job creation, innovation, and international trade. The relevance of diaspora entrepreneurship is amplified in today’s global economy, where approximately 215 million migrants send significant financial resources back home—over $534 billion in recent years. These entrepreneurs not only enhance economic development through direct investments in local businesses but also facilitate knowledge transfer and cultural exchange, fostering resilience in both local and global contexts. Initiatives like the African Diaspora Investment Symposium and programs such as the Zidicircle Entrepreneurship Bootcamp highlight the importance of strategic networking and support structures that promote diaspora businesses. However, challenges persist, including institutional barriers and limited access to capital, underscoring the need for comprehensive policies that can further enhance the role of diaspora entrepreneurs in driving sustainable development and bridging economic gaps across continents. Overall, diaspora entrepreneurship emerges as a vital force for innovation, cultural connectivity, and economic growth in an increasingly interconnected world.
What role do Indians play in Omani society?
Indians form one of the largest expatriate communities in Oman and serve as a living bridge between the two nations, exemplified by families like the Khimjis who are proud of this connection. They have become an integral part of Oman's social fabric, seamlessly integrating into the society while maintaining their cultural identity. Beyond social integration, the Indian community continues to make significant contributions to Oman's economic development and progress. Their presence spans multiple generations, with some families like the Khimjis now being fourth-generation Omani citizens, demonstrating the deep-rooted and enduring relationship between India and Oman.
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WION
03:19 - 03:44
What role has the Indian diaspora played in strengthening ties between India and Oman?
The Indian diaspora has made significant contributions to Oman by establishing deep cultural and economic connections. Many Indian-origin merchant families have settled permanently in Oman, with prominent examples like the Khimji family who arrived from Gujarat in the 1800s and established lasting legacies that continue today through their descendants. These families have become integral to Oman's social and economic fabric while maintaining their Indian heritage. As India and Oman celebrate 70 years of diplomatic relations, these Indian-origin Omanis continue to serve as important bridges between the two nations, strengthening bilateral ties through their ongoing connections with India.
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00:00 - 00:17
What milestone are India and Oman celebrating in their bilateral relationship?
India and Oman are celebrating 70 years of established diplomatic ties. This significant milestone was commemorated with the release of a special logo during Indian Foreign Minister S.J. Shankar's visit to Oman. The celebration highlights the enduring relationship between the two nations that has developed over seven decades. The anniversary recognizes the historical connection that has fostered cultural exchanges, economic partnerships, and the successful integration of the Indian diaspora in Omani society, including notable families like the Kimjis who have contributed to strengthening these bilateral relations.
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WION
03:07 - 03:18
What is the origin and development of the Khimji family business in Oman?
The Khimji family business originated when patriarch Kimji Ramdas arrived at the port of Sur in Oman in 1870 from Mandvi, Gujarat in India. Initially a captain of a Dhow transporting spices between India and Africa, he decided to stay in Muscat and began as a broker selling rice and earning commission. Over generations, the family enterprise grew significantly, and today the Khimji Group employs more than 5,000 people. This 150-year-old legacy has evolved from humble trading beginnings to become one of Oman's most prominent business families, now continuing into its sixth generation.
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00:24 - 01:55
What are the two key elements that form the basis of the India-Qatar relationship?
The India-Qatar relationship is fundamentally built on two key elements. First, Qatar serves as an important source of LNG (Liquefied Natural Gas) to India, making it a crucial energy partner in India's strategy. This energy cooperation forms the backbone of their economic ties. Second, the large Indian diaspora residing in Qatar represents a significant human connection between the two nations. During recent bilateral meetings, Prime Minister Modi and the Amir of Qatar signed important agreements including a strategic partnership and a revised double taxation treaty, aiming to strengthen these foundational elements of their relationship.
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WION
02:02 - 02:40
What role do Indians play in Oman's society and economy?
Indians represent one of the largest expatriate communities in Oman and serve as a living bridge between India and Oman, exemplified by families like the Kimjis who proudly maintain connections to both countries. They have become an integral part of Oman's social fabric, contributing significantly to the nation's cultural diversity and community bonds. Beyond social integration, the Indian community continues to play a vital role in Oman's economic development and progress. Their ongoing contributions help strengthen the bilateral relationship between the two countries while supporting Oman's growth trajectory, making them essential participants in the country's advancement.
Watch clip answer (00:29m)
WION
03:21 - 03:51