Reliance to distribute Indian Mobile Content Globally

Reliance Communications has signed up with Canadian telco Telus and is in talks with others for the distribution of mobile content across the globe, reports Business Standard. Reliance will offer the usual stuff - games, devotional songs, ringtones, ring-back tones, music and wallpapers, all targeting the ethnic Asian community in US, UK, Canada, Middle East, Singapore and Malaysia. Teleus and Reliance will set up a content portal called ‘Apna Des’. The revenue share for content providers would be around 25 per cent for generic content, and around 80 per cent for premium content. According to analysts South Asian content is expected to be $3Bn by the end of 2008. The other telco’s that Reliance is reportedly in touch with are T-Mobile and AT&T in the US, Vodaphone and Orange in the UK, Singapore Telecom Mobile in Singapore and Telekom Malaysia in Malaysia.

NRI's send home an amazing $21 Billion

According to a study by investment bankers, J.P. Morgan, India is the largest recipient of remittances by overseas workers, estimated at $21 billion -- up from almost 150% since 1995. The JP Morgan study reaffirms Reserve Bank of Indian figures released recently that found remittances were double the amount of net foreign institutional investor inflows and one-fourth of the merchandise export earnings of the country.

The study reports that stock of deposits by NRIs amounts to around $32 billion or 23% of foreign exchange reserves. Portfolio and real estate investment has been largely concentrated in the IT space.

While the report notes that the Indian Diaspora can act as a "powerful catalyst", even helping India realize and perhaps exceed its aspiration of 10% annual GDP growth, the onus for better capitalization lies on the Indian government.