At a Macro Level:

India shining

India has come a long way from being an agricultural country to our service industry putting us on the fast track to success. IT, travel and tourism, hospitality, airline industry have been major contributors to this growth. Infact it was the IT industry which set the ball rolling representing the new face of India globally. From being a country which offered an excellent opportunity for foreign multinational companies to launch their products and services to a country acquiring European companies, India has done a complete 360 degree turnaround.

We have become a force to reckon with and an ability to impact the global economy thereby becoming an attractive destination for the NRIs to come home to. We have finally managed to create a platform for our home grown professionals to come back to take advantage of the change.

Economic slow down coupled with temporary employment

In February 2008, the US economy lost 63,000 jobs. These losses were spread across a broad range of businesses. It is a clear indicator that the US economy is heading towards a recession. The real estate market debacle has rendered many a people bankrupt. These alarming facts are forcing Indians abroad to reconsider their decision to stay put overseas.

Many Indians who find employment abroad, (especially in Europe) do not get a permanent contract. The company which hires them renews the contract or they have to look for another job once their contract is over. This sense of insecurity is another factor that is making Indians return back home.

Double digit pay hike

In the last five years, Indian professionals have enjoyed a double digit pay hike across sectors year on year. Infact IT professionals got the highest pay hike in the year 2005. According to studies conducted and various salary surveys, even other Asian countries have not been able to emulate this feat. While a whole host of Indian students continue to choose foreign universities over Indian one’s to pursue higher education but when it comes to seeking employment, turn home wards due to the opportunities India has to offer. Moreover Gen X is smart enough to realize that opportunities in a recessionary economy are not going to further their professional goals and temporary contracts hold little or no value for these professionals.

Even at the senior level, executives are making upto 70 to 80 percent of the salaries of their overseas counterpart. Some multinational companies are paying allowances to employees who earn in dollars due of the dropping dollar rate.

Standard of living

Liberalization and opening up of the economy created a platform for a slew of foreign multinationals to set up shop in India. Products and brands which were patronized by Indians residing overseas are now easily available in India. This phenomenon ensured that NRIs did not miss the lifestyle they were accustomed to overseas. Products for daily use to high end products are all available off the self in India. Infact not just products but India has been able to even create the shopping experience in the form of malls and supermarkets.

Demand for global professionals

As companies grow and expand their operations, the need for human talent to manage the growth also increases. However trained professionals with the right skills are hard to find. NRIs, especially those in the middle and senior levels are sought. These professionals are not only professionally qualified but also have the required exposure to operate or run a global conglomerate. Companies like Wipro, Motorola, Larson & Tubro, have ‘Return to India’ programs for those who want to relocate and work in our country.

For example Wipro’s ‘Return to India’ program enables you to apply for exciting career opportunities at various Wipro development centres in India. Recruiters of these companies contact the prospective NRI candidates and discuss the opportunities available based on their areas of interest. This provides them with excellent benefits, competitive salaries and a challenging work environment.

At a Micro Level:

Problems in adaptability

Adapting to an alien culture that is completely different from one’s own is not everybody’s cup of tea. Indians are generally adaptable and adopt the culture of the country they migrate to fairly easily however in some cases; people fail to adjust to the change in the social, geographical as well as the political environment. This may be true even after residing in a country for many years. There is no sense of belonging in their adopted environment, infact they have a sense of being lost in the crowd and this brings them back home to India.

Level of education

There was a time when Indians migrated abroad for higher education as some of the research subjects or Masters program were not available in India. The availability of excellent research centers and institutes of higher education has encouraged Indians to continue their studies in India itself. In some cases NRIs come down to India because they want their children to be educated here.