Human resource mobility is an essential feature of today's globalised world where integrated world markets, networks and technologies are all contributing to the increasing movement of labour, students, professionals and families. The migrants of today are the Diaspora of tomorrow - and those of yesteryears, that of today. The Indo-European Diaspora represents a significant population in its size, spread and depth. Yet it is argued that their engagement - economic, social and cultural- with India is currently short of its potential relative to their counterparts in North America. This paper examines that relationship and suggests how both India and the EU must draw upon the Indian strategy to widen and strengthen the bridge that the Indian Diaspora represents. The paper focuses on a five select countries in the EU for this analysis, i.e. Belgium, France, Germany, Italy and the Netherlands, being countries that not only have the largest presence of Overseas Indians in mainland Europe but are also strategically important for India. The paper examines the link between Diaspora and development and concludes that it's a relationship that needs to be nurtured for mutual benefit. It argues that the Indo-European Diaspora has contributed to the economies of the host countries and now is in a position to play a part in India's developmental efforts. For this a conducive framework needs to be in place. The Indian Government's policies and programmes are steps in this direction and the time is opportune for the Diaspora to evolve mutually beneficial strategies with both host and home countries to carry forward the relationship. Keywords: Human resource mobility, Indo-European Diaspora, migration, development, policy