Gravitas | Indian expat techies are looking to return home. Here's why | WION

Summary

Indian tech professionals, once aspiring to work abroad, are now seeking to return to India. Amidst global tech layoffs and economic uncertainty, India's resilient economy and growing job market offer a more appealing prospect. Factors like better public services, affordable private education, and improved healthcare are driving this reverse migration, with recruitment agencies witnessing a 30% rise in inquiries from Indian expats.

Takeaways

• 🌐 Indian tech professionals are reconsidering their dreams of working abroad and are increasingly looking to return to India.
• 📉 Major tech companies worldwide, including Google, Amazon, Meta, and Microsoft, are laying off employees, affecting the job security of Indian techies abroad.
• 🏠 The allure of the 'American Dream' and other foreign opportunities is fading due to job and visa uncertainties.
• 🇮🇳 Despite global economic challenges, India's economy has shown resilience with a notable GDP growth of 8.8% in Q3 of 2023.
• 📈 Moody's has revised India's GDP growth forecast for 2024 upwards from 6.1% to 6.8%, reflecting a positive outlook.
• 🏢 The number of Indian expats seeking opportunities in India has reportedly doubled in a month, reaching at least 38,000 individuals.
• 💼 There's a growing trend of Indian expats reaching out to recruitment agencies for job opportunities back in India.
• 🏥 Healthcare in India is perceived as cheaper and better, which is a significant draw for expats considering repatriation.
• 🏫 The cost of private education in India is lower, and public education is considered better, making it an attractive option for families.
• 📈 Headhunters have reported a rise of up to 30% in queries from expats looking for jobs in India, indicating a shift in preference.

Q & A

What are some of the dreams Indian techies have traditionally pursued?

Indian techies have traditionally pursued dreams such as the American dream, the Canada dream, and the dream of obtaining a golden visa in the UAE.

Why are Indian techies now considering returning to India?

Indian techies are considering returning to India as they have realized that the grass is not greener on the other side, with growing job and visa uncertainties abroad.

How many Indian expat talents are reportedly looking to return to India?

At least 38,000 Indian expat talents are reportedly looking to return to India, with the number doubling in a month.

What has been happening with big tech companies outside India?

Big tech companies like Google, Amazon, Meta, and Microsoft have started laying off employees, leading to uncertainty and a shift in the perception of the American dream.

How has the UK's economic situation affected Indian expats?

The UK, which was a preferred destination for Indians, has entered a recession, affecting job opportunities and contributing to the desire of Indian expats to return to India.

What is the current state of the Indian economy?

Despite the global downturn, the Indian economy has remained resilient, with a GDP growth of 8.8% between October and December, higher than the previous quarter's 7.6%.

What is the revised GDP growth forecast for India in 2024 according to Moody's?

Moody's has revised its GDP growth forecast for India in 2024 from 6.1% to 6.8%.

What are some reasons listed by Tre a Tech for working and settling in India?

Tre a Tech listed reasons such as ease of getting house help, cheaper and better private education, and improved healthcare as incentives for working and settling in India.

What has been the reported increase in queries from expats looking for opportunities in India?

Headhunters are reporting a rise of up to 30% in queries from expats looking for opportunities and jobs in India.

What does the phrase 'the grass is greener in India' imply in this context?

The phrase 'the grass is greener in India' implies that Indian expats have realized that life and opportunities in India are better compared to what they experienced abroad.

What is the significance of the statement 'we are now available in your country'?

The statement 'we are now available in your country' suggests that the service or app mentioned in the script is now accessible to users in the country where the Indian expats are located, possibly to help them with their job search and relocation.