One of the most significant event in the history of Indian economy is the IT revolution. This has not only changed the face of the nation and made it an emerging superpower but it has also changed the lifestyle of the middle class Indian. Today, the whole world is looking at India for investment and various other reasons. While this is the scenario today, just few years back, the entire situation was different. The migration of many skilled professionals from India to the US and other foreign countries was in full swing.
However, the analysts are now predicting that the situation is taking a reverse turn in 2012. Apparently, the Brain drain wave has begun to recede and some have predicted that it has come to a stopping stage. The reason for that is the stoppage of US visa issuing. On the other hand, there are reports that the green card issuing has also reduced. As it is, there are many Indian families who have been in the US for more than ten years returning to India.
With not many going there and those who are there returning back, the situation in Indian IT market is looking brighter and stronger. The chances of seeing more Narayana Murthys is on the anvil since the scope of budding entrepreneurs will be high. The employers are expressing that finding skilful and experienced resource in the market is going to be easy and this will also improve client service efficiency. Above all, the cost involved for the resource can also come down.
On the flip side, due to the stagnation and abundance of the knowledge pool, the scope for competition gets high. So, unless individuals begin to branch out as entrepreneurs and come up wtih indigenous products, the market will not expand and the economy will not receive a boost. In a way, USA rejecting Indians is like making India a superpower. But the key factor here is, the political and administration system has to change. The deep roots of corruption should be wiped out and this is sure to bring in a phenomenal change to the country’s future.
However, the analysts are now predicting that the situation is taking a reverse turn in 2012. Apparently, the Brain drain wave has begun to recede and some have predicted that it has come to a stopping stage. The reason for that is the stoppage of US visa issuing. On the other hand, there are reports that the green card issuing has also reduced. As it is, there are many Indian families who have been in the US for more than ten years returning to India.
With not many going there and those who are there returning back, the situation in Indian IT market is looking brighter and stronger. The chances of seeing more Narayana Murthys is on the anvil since the scope of budding entrepreneurs will be high. The employers are expressing that finding skilful and experienced resource in the market is going to be easy and this will also improve client service efficiency. Above all, the cost involved for the resource can also come down.
On the flip side, due to the stagnation and abundance of the knowledge pool, the scope for competition gets high. So, unless individuals begin to branch out as entrepreneurs and come up wtih indigenous products, the market will not expand and the economy will not receive a boost. In a way, USA rejecting Indians is like making India a superpower. But the key factor here is, the political and administration system has to change. The deep roots of corruption should be wiped out and this is sure to bring in a phenomenal change to the country’s future.
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