The Hongkong and Shanghai Bank calls itself the world’s local bank. HSBC has a huge customer base in different parts of the world and a large number of it’s global customer base always happen to be on the move— be it for building careers, growing businesses, office relocation, or for international exposure etc. It’s unique ads always greet weary travelers coming out of the plane or getting on a long flight.
I read that a market research company called YouGov hired by HSBC took the interviews of over 9000+ expats from 100 different countries this year. It is also interesting to follow tools like the expat finance tool, tax guide for different countries, expat videos, a Youtube channel along with a blog and I feel it makes a difference to mobile citizens who can connect on such platforms. Topics like ‘Expat Life’ can help expats immensely. The section covers important aspects of a moving expat’s life and happens to be quite popular globally. The NRI ministry could collaborate or take inspiration from HSBC as there are over 25 million strong Indian diaspora around the globe. Given PM Modi urging NRIs and People of Indian Origin (PIO) to join India’s new growth story this imperative becomes even more significant. The NRI Ministry with the help of similar surveys and initiatives can link with a large number of global Indians who want to stay connected to India and participate in this wave of growth.
As more and more Indians are turning into global citizens by joining multinationals, IT companies, and establishing global businesses in world locations, I see such initiatives as the ‘need and product of current times’. I also see Indian financial firms to pick up this pulse and gain an insight into the current trends of these globetrotting prospects as an serious investment of time and resources.
Do you think HSBC’s model can inspire the NRI ministry to come up with similar programs?
Sanjay Puri has been working on Indian-American issues and facilitating stronger US-India relations through USINPAC (US India Political Action Committee and AUSIB (Alliance for US India Business), two bipartisan organizations that he chairs.