CHENNAI, India, January 8 /PRNewswire/ --     On the occasion of the 5th Pravasi Bharatiya Divas being
organized in Chennai Trade Centre today, Boston and Pune based New Global
Indian Initiatives, which is celebrating its first anniversary, has announced
the launch of NGI Foundation to impact the Indian society in general and
youth in particular in a major progressive way. The Foundation, to begin
with, has its avowed objectives as entrepreneurship training, micro-financing
of a new generation of social entrepreneurs, and taking up a campaign to
combat terrorism and create awareness among the youth of India on issues
connected to terrorism.

"The Foundation will seek to identify and train future
entrepreneurs from disadvantaged families, and provide them with seed money
through bank loans, angel investments and micro financing from our end. Going
beyond dependence on government projects and foreign investments, Indian
youth needs to create its own entrepreneurial talent pool and initiatives.
The Foundation will facilitate this process. To begin with, the Foundation in
2009 will identify and train in entrepreneurship a hundred youths between 20
and 30 years of age, and provide them with the seed capital to start their
initiatives," informed Kanchan Banerjee, an Indian-American from Boston and
Chairman of NGI Initiatives. He has already identified several willing angel
investors from USA and is in conversation with banking and other financial
organizations to implement this goal of the new Foundation.

NGI Initiatives as a monthly magazine and an online portal,
http://www.newglobalindian.com, was launched in the last Delhi PBD of
January, 2008, and has been publishing the magazine every month which has now
reached a print order of 10,000 copies and is sent to subscribers among
people of Indian origin in a total of 16 countries around the world. It is
during this first anniversary of NGI Initiatives, that the Foundation has
been established and announced.

The India-based partner of the iPremm Chairman Kanchan
Banerjee of Boston, Prof Ujjwal K Chowdhury, currently the Dean of Pune-based
Symbiosis International University, brings in another dimension in the
working of the Foundation in the wake of the recent terror strike in Mumbai.

"The recent spate of terrorism in India makes it necessary to
create a 360 degrees communication campaign to create awareness about
terrorism, its causes and manifestations, and ways and means of tackling it,
socially, legally and at individual levels. Hence, the Foundation, in
association with the Symbiosis Institute of Media & Communication, will
launch an awareness campaign through workshops, on-ground events, on-air
publicity, articles and features, posters and theatre on this issue among the
youth of Indian in educational campuses and towns, trying to reach out to a
million youth over this year," notes Prof Ujjwal K Chowdhury.

On February 5 next, NGI Foundation and SIMC will organize a
Combat Terror Day in Pune bringing together a thousand youth and some
stalwart speakers from media, art, culture, defense and social life, for a
panel-discussion, a mobile exhibition of photographs and creative expressions
against terrorism, and with a leading news channel shooting and telecasting a
talk-show.

"Over the next one year, NGI magazine will aim to reach out to
every nation in the world wherever a person of Indian origin lives. The NGI
Foundation will tap into the knowledge and management expertise of Indian
experts around the globe in different business sectors, technological and
financial resources of many of our patrons and train and start
entrepreneurial initiatives of a hundred graduate youth from disadvantaged
families of India. This is apart from the NGI portal reaching out to more
than a million of Indians across the world on-line, and a global NGI meet
being organized later this year in Orlando of USA," informs NGI Chairman,
setting forth the goals of the year ahead.

For more information, please contact:

    India Office:
    40, B/2 Wing
    Vrindavan Park
    Mahatma Society
    Kothrud
    Pune - 411029

    Contact: Ujjwal K. Chowdhury; Cell : +91-93733-11239
    Marketing Manager: Kangkan Mahanta; Cell: +91(0)-97635-94218

    US Office
    109, Gulliver Street,
    Milton,
    MA 02186 USA
    Contact: Kanchan Banerjee; Cell : +1-617-306-6609