fineleg Posted March 3, 2009 Posted March 3, 2009 http://news.in.msn.com/international/article.aspx?cp-documentid=1882364 100,000 pros may return to India from US Washington: As economic downturn continues to grip the United States, as many as 100,000 highly skilled Indians -- and as many Chinese -- may return home over next three to five years, which will boost the economies and competitiveness of both the emerging Asian nations. The reverse immigration could end up as a big loss to the US, which has so far relied heavily on the immigrants to give it a technological edge over the rest of the world, according to a study conducted by Indian-American Vivek Wadhwa and released by the Ewing Marion Kauffman Foundation. The majority of these Western-educated, skilled and talented young Indian and Chinese professionals are planning to start new ventures, says the report released on Monday. Much before the American economic slowdown, a large number of these professionals had already begun returning home lured apparently by prospects of a better future back home. It also indicates that placing limits on foreign workers in the US is not the answer to its rising unemployment rate and may undermine efforts to spur technological innovation. "A substantial number of highly skilled immigrants have started returning to their home countries in recent years, draining a key source of brain power and innovation," said Robert Litan, vice president of Research and Policy at the Kauffman Foundation. Based on a six month survey of 1,203 Indian and Chinese who went back home, the report finds though restrictive immigration policies caused some returnees to depart the US, the most significant factors in the decision to return home were career opportunities, family ties, and quality of life. "There are no hard numbers available on how many have returned, but anecdotal evidence shows that this is in the tens of thousands," said Wadhwa, executive-in-residence for Pratt School of Engineering at Duke University. Wadhwa is also a fellow at the Labour and Work life Programme at Harvard Law School and is a BusinessWeek columnist. "With the economic downturn, my guess is that we'll have over 100,000 Indians and as many Chinese return home over the next 3-5 years. This flood of western educated and skilled talent will greatly boost the economies of India and China and strengthen their competitiveness," he said. India is already becoming a global hub for R&D. This will allow it to branch into many new areas and will accelerate the trend, Wadhwa said. The report reveals that family considerations are strong magnets pulling immigrants back to their home countries. Care for aging parents was considered by 89.4 per cent of Indians and 79.1 per cent of Chinese respondents to be much better in their home countries, says the 24-page report.
fineleg Posted March 3, 2009 Author Posted March 3, 2009 me being one. are u returning back to Mumbai?
vadodaravictor Posted March 3, 2009 Posted March 3, 2009 I might move back too... sick of US immig :hatsoff: same here..employment immigration in US is the most f*d up system in whole world.
fineleg Posted March 3, 2009 Author Posted March 3, 2009 I hear job market in India is tight too (although much better than US ofcourse)
Ram Posted March 3, 2009 Posted March 3, 2009 The majority of these Western-educated, skilled and talented young Indian and Chinese professionals are planning to start new ventures, says the report released on Monday. O'rly? G'luck to those 'Western-educated, skilled and talented young Indian professionals' wanting to start a new venture overcoming piles and piles of the world infamous Indian bureaucracy. Indian corporate, labor and tax laws are prohibitively discouraging towards the starting of new enterprises. Most of these NRIs will end up competing with local high skilled workers for the already existing jobs, which may end up softening the labor market even further.
fineleg Posted March 3, 2009 Author Posted March 3, 2009 O'rly? G'luck to those 'Western-educated, skilled and talented young Indian professionals' wanting to start a new venture overcoming piles and piles of the world infamous Indian bureaucracy. Indian corporate, labor and tax laws are prohibitively discouraging towards the starting of new enterprises. Most of these NRIs will end up competing with local high skilled workers for the already existing jobs, which may end up softening the labor market even further. Its not that the NRIs have no idea about India, they may have connections in India as well. Starting a new venture in India is tough, but not particularly different for NRIs. In India, connections are needed - that is the way things work. Whether you are NRI or not, you will face the same sort of hurdles.
THX_1138 Posted March 3, 2009 Posted March 3, 2009 I will be flowing against the tide. Will be here for another 4 years starting August when i begin work on the final frontier.
fineleg Posted March 3, 2009 Author Posted March 3, 2009 I will be flowing against the tide. Will be here for another 4 years starting August when i begin work on the final frontier. final frontier = phd?
umpire Posted March 4, 2009 Posted March 4, 2009 >G'luck to those 'Western-educated, skilled and talented young Indian professionals' wanting to start a new venture overcoming piles and piles of the world infamous Indian bureaucracy. Indian corporate, labor and tax laws are prohibitively discouraging towards the starting of new enterprises. BuLLCR@p.
Ram Posted March 4, 2009 Posted March 4, 2009 ^ http://www.nytimes.com/2009/02/11/opinion/11friedman.html “If you do this, it will be one of the best things for India and one of the worst for Americans, [because] Indians will be forced to innovate at home,” said Subhash B. Dhar, a member of the executive council that runs Infosys, the well-known Indian technology company that sends Indian workers to the U.S. to support a wide range of firms. “We protected our jobs for many years and look where it got us. Do you know that for an Indian company, it is still easier to do business with a company in the U.S. than it is to do business today with another Indian state?” Each Indian state tries to protect its little economy with its own rules. America should not be trying to copy that. “Your attitude,” said Dhar, should be “ ‘whoever can make us competitive and dominant, let’s bring them in.’ ” http://money.cnn.com/magazines/fsb/fsb_archive/2007/06/01/100049637/index.htm So what are the best countries for entrepreneurs now? Where might American entrepreneurs think about setting up overseas? And where should they keep an eye out for global competitors? Some of the stars - such as Iceland and Denmark - might surprise you. Laggards include India. We figure among the list of least friendly countries to start a new business. I say it again, India offers an incredibly unfriendly environment towards beginning small and medium sized enterprises. Our corporate taxes are incredibly high and our antiquated labor laws make it very tough to hire and fire people. Not to mention the insane left-wing sponsored labor unions that afflict most states. But beyond all, it’s that famous Indian red-tape and corruption embedded within our system that acts as the biggest obstacle.
umpire Posted March 4, 2009 Posted March 4, 2009 >I say it again, India offers an incredibly unfriendly environment towards beginning small and medium sized enterprises. Our corporate taxes are incredibly high and our antiquated labor laws make it very tough to hire and fire people. FYI, I jsut started medium sized enterprise (Pvt. Ltd.) with no problems at all.
Ram Posted March 4, 2009 Posted March 4, 2009 >I say it again, India offers an incredibly unfriendly environment towards beginning small and medium sized enterprises. Our corporate taxes are incredibly high and our antiquated labor laws make it very tough to hire and fire people. FYI, I jsut started medium sized enterprise (Pvt. Ltd.) with no problems at all. I didnt say it was impossble to do so, I said India offers a way way more unfriendly environment compared to other Entrepreneur-friendly countries. Business enterprises are taxed heavily and depending on what sort of enterprise it is, have to comply with stringent and old corporate governance laws. FDI, which is a crucial source of funding, is limited in most sectors to foreign investors holding minority stakes only. Infrastructure is creaky and unpredictable. So, if you’re in the logistics of shipping Industry, you could potentially suffer massive losses when there is a natural disaster.
coffee_rules Posted March 4, 2009 Posted March 4, 2009 2009 Index of Economic Freedom as per Wall Street Journal/Heritage: http://www.heritage.org/index/Ranking.aspx India is listed at 123 just above Rwanda. Pakistan, FYI is at: 102!
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