Welcome home–100k Indians to return from US
You will be surprised to read this. I was just going through some news when this title flashed in front of me. It is estimated that around 100K Indians and an equal number of Chinese will return to their native countries in the next three to five years from US. This has been estimated in a new US study. What are your thoughts folks? Is it helpful or painful?
The study has been conducted by Vivek Wadhwa, who led a team at Duke, Harvard and Berkeley universities. Vivek Wadhwa is executive-in-residence for the Pratt School of Engineering at Duke University and fellow at the Labour and Worklife Programme at Harvard Law School.
He said: “With the economic downturn, my guess is that we’ll have over 100,000 Indians and as many Chinese return home over the next three-five years. This flood of western educated and skilled talent will greatly boost the economies of India and China and strengthen their competitiveness. 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.”
There is no denial that the world economic recession has hit all walks of life and living abroad is one of them for lots of technocrats and professionals.
Wadhwa continued: “The US has always had the luxury of being arrogant about immigration because it has been the strongest magnet for the world’s best and brightest,” but as the study shows “there are other strong magnets now. We are effectively exporting our economic stimulus. Policies like those which the US just enacted which prevents some banks from hiring foreign workers will have the opposite effect from what they intended – they will send jobs abroad and scare away top talent.”
Well, the funnier side of this story is that lots of parents will be able to see their wards in their homes and working in front of their eyes. Empty nest syndrome will be less and there will be lot of mutual sharing of feelings between children and parents. On the other hand, this could fuel a lot of competition among professionals who are enjoying a rare privilege in India because of the brain-drain.
This is an interesting period in the history of mankind and lots of global issues are propping up. Global economic recession is one of them. We will have to wait and watch what could happen in the next half decade or so.