Pvt remittances from US to India totalled $3.2 billion in 2009

People in India and China received over $3 billion each and together accounted for about 20% of the total for those 10 countries, according to data from the Congressional report titled "Migrant's Remittances and Related Economic Flows"

Washington: India received $3.2 billion in private remittances from the United States in 2009, almost the same as China, reports PTI quoting a new Congressional report.

In 2009, 10 countries accounted for over $32 billion, or about 40% of net private remittances and related flows from the United States, said the Congressional Budget Office in its report, "Migrant's Remittances and Related Economic Flows."

People in Mexico received about $20 billion, the largest single share by far, about 61% of the total receipts for the 10 countries.

"People in India and China received over $3 billion each and together accounted for about 20% of the total for those 10 countries," said the 28-page report.

"Between 2000 and 2009, net private remittances and related flows to those 10 countries grew by an average of 7% per year (not adjusted for inflation)," it said.

"Such transfers to people in India experienced double-digit growth over the period, rising from $1.1 billion in 2000 to $3.2 billion in 2009, an average increase of 13% per year," the report said.

Transfers to people in China rose from $1.5 billion in 2000 to $3.2 billion in 2009, an average increase of 9% per year.

Such transfers to Canada were erratic over the period; they rose from $0.5 billion in 2000 to $2.2 billion in 2009, but net outflows from Canada occurred in some of the intervening years.

Although a substantial share of net private remittances and related flows went to 10 countries-Mexico, China, India, Canada, Korea, Brazil, Netherlands, Luxembourg, Taiwan and Japan-other countries experienced faster growth in such transfers over the past decade, the report said.

The Bureau of Economic Analysis (BEA) estimates that migrants' remittances totalled about $48 billion in 2009-nearly 70% more than official development assistance provided by the US government.

Nearly $38 billion of that amount was personal transfers by foreign-born residents in the United States to households abroad.

The rest, about $11 billion, reflected the compensation of employees who were in the United States for less than a year. Some of that compensation, however, was spent in the United States.

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Asian Paints: Punar janam lacks life

They have forgotten to pack in the one most important ingredient... and that’s humour. And have instead added on the ‘obsession’ factor, but it falls a little flat

So then how do you depict the durability, the long-lasting effect of a hardware brand? Many routes have been tried by marketers. My most favourite one is the ad done by Greenply plywood some years ago. And that featured a re-incarnation sequence. A young Sikh boy accidentally discovers he was a Tamilian man in his past birth. And the memory is triggered by his wooden table he finds in his past house, which remains as solid as ever. And the exchange in Tamil between the little Sardarji boy and his past life wife Savithri was hilarious to say the least.



Asian Paints, for its brand Apex Ultima Exterior Paint, has tried to re-incarnate the re-incarnation trick, and I am afraid it doesn't really work. They have forgotten to pack in the one most important ingredient from the Greenply ad: and that's humour. And have instead added on the 'obsession' factor, but it falls a little flat.

The commercial features a neighbour who's obsessed with the next door house. And he spends his life longing for it. Why? Because having been painted with Apex Ultima, it's totally beautiful. Anyway, soon the bugger dies, but his obsession with the bungalow continues. And he is re-born as a colourful bird. Now, of course, no one can stop him (it). So the bird hangs around the house all the time, enjoying its well-painted interiors and exteriors. It also leaves droppings out of jealousy (that's my own little input, hehe).

Well, okay, the ad is cute. And if you push me a little harder, I may even smile a bit. The desired dual promise of durability and desire is brought out well. So all cool on that front. But, like I said, humour is the key in this commercial and on that score the creative falls in the average zone. Having been spoilt by Greenply's punar janam magic, the bar has been raised in our minds. And Asian Paints needs to do a lot better than this, especially considering it's a much larger, richer brand.

So, back to the drawing board, people. Re-incarnation to highlight durability is a powerful idea. And if you can't come up with a solid rendition in this life, come back and do it in your next avatar. Yes, the idea is as durable as the paint. It will last forever. Especially in India, where most people believe in the next life.

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The New Zealand quake may cost up to $9 billion

ANZ National Bank Ltd estimates that this week's earthquake may cost as much as NZ$12 billion.

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