The three-day convention marks the contribution of the overseas Indian community in the country's development and aims at connecting India to its vast overseas diaspora and bring their knowledge, expertise and skills on a common platform.
The PBD is the flagship event of Ministry of Overseas Indian Affairs (MOIA), Government of India.
2015 is the centenary year of the return of Mahatma Gandhi to his motherland from South Africa on January 9, 1915, from where he led freedom struggle against the British.
After landing in Mumbai, Gandhi travelled extensively in the country before establishing his base at Sabarmati Ashram here on the banks of Sabarmati river.
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On the first day of the event, External Affairs Minister Sushma Swaraj and US-based astronaut Sunita Williams, who has roots in Gujarat, will take part in the 'Youth PBD' programme at Mahatma Mandir in Gandhinagar, the venue of the convention.
Modi will also inaugurate an exhibition on the life of Mahatma Gandhi at the venue.
NRI delegates from over 58 countries are expected to participate in the event which will have a battery of speakers including Vice President Hamid Ansari, Narendra Modi, senior Cabinet ministers, besides prominent NRI personalities spanning the fields of education, politics and business.
On the last day of the event, chief ministers of various states will try to seek investment from NRI delegates in their respective states.