The talk was aimed at enlightening the NRI parents in the city about the current economic recession. The NRI Days celebrations, which will end on January 9, will be toned down this year because of recession. Addressing the gathering of about 300 NRI parents on Monday, Thakar said there is no reason to worry, considering that most of the Indians employed in USA and Europe are at very high positions and work harder than their American or European counterparts.

He cited that the decreasing oil prices, US government's decision to spend on infrastructure and generate 3 million jobs and similar decisions will prove in favour of economy.

Thakar compared the GDP of India and US and established that even if the US GDP falls to 1 per cent, it will be still higher than India GDP.

However, Thakar said that there are lessons to be learnt from the slowdown. “NRIs should be cautious in spending money. While it is natural that they get awed by their US counterparts who are in for luxury, NRIs should remember that flashy lifestyle always comes with some risk,” he said.