Why Indian Students are going Abroad? | Open Letter

Summary

The video explores why a growing number of Indian students and high-net-worth individuals are leaving India to settle abroad, especially in countries like the US, Canada, and the UK. It highlights the appeal of better education, career prospects, and quality of life outside India. However, it also discusses the challenges of racism, geopolitical tensions, and the high cost of living in these countries. The video offers a balanced perspective, advising students to carefully consider their options and the long-term implications before making such life-changing decisions.

Takeaways

• 😀 India is losing a significant number of high-net-worth individuals (HNWIs), with an estimated 6,500 millionaires expected to leave in 2023.
• 🎓 Indian students are increasingly going abroad for higher education, with a dramatic rise in the number of students studying in countries like the US, UK, and Canada.
• 🌍 The reasons Indian students prefer studying abroad include better education systems, practical learning, diverse subject choices, and superior infrastructure.
• 💸 The financial burden of studying abroad is substantial, with many students either taking loans or being from wealthy families who can afford the high tuition fees.
• 📚 The education system in India is often criticized for outdated curricula, rote memorization, lack of industry exposure, and an insufficient emphasis on practical skills.
• 🏫 Western countries offer a more liberal education system, allowing students to mix disciplines like Philosophy and Psychology with Maths, unlike the rigid stream system in India.
• 🎓 The absence of intense competition for university admissions in many foreign countries is a major draw for Indian students, who often face fierce competition in India.
• 💼 Post-graduation job opportunities in foreign countries, especially in the US and Europe, are seen as more lucrative and career-advancing compared to India.
• 🌍 The increasing global demand for skilled professionals and the lack of local talent in countries like the US and Canada is a major factor encouraging Indian students to study abroad.
• ⚠️ The negative side of studying abroad includes rising incidents of racism, potential geopolitical issues (like tensions with Canada), and the risk of discrimination against Indian students in certain countries.

Q & A

Why are so many Indian millionaires leaving the country?

Thousands of millionaires are leaving India due to various factors, including higher taxes, lack of infrastructure, and better opportunities abroad. It's expected that India could lose up to 6,500 high-net-worth individuals in 2023 alone.

What is the current trend regarding Indian students studying abroad?

Every year, lakhs of Indian students are going abroad to study. The number of Indian students going overseas has been increasing rapidly, and India now has the second-highest number of students studying abroad, just behind China. This trend has accelerated, despite challenges like the lockdown and the Russia-Ukraine conflict.

What are the main reasons students choose to study abroad instead of in India?

The main reasons include better educational infrastructure, freedom in choosing subjects, a focus on practical learning and critical thinking, and a lack of industry exposure in India's education system. Many students also seek better career prospects and higher quality of education abroad.

What is the financial impact of Indian students studying abroad?

In 2023, around 85 lakh students from India went abroad, spending nearly $34 billion in countries like the US, Canada, and the UK. This includes tuition fees, rent, and other living expenses. The cost of education in these countries can range from Rs 12-13 lakh to Rs 40-50 lakh per year.

How does the education system abroad differ from that in India?

Abroad, universities offer more flexibility in subject selection and a focus on practical education. In India, the education system is more rigid, often emphasizing rote memorization. The faculty in India also often lacks industry experience, and the infrastructure in top Indian colleges doesn't match that of institutions abroad.

What challenges do Indian students face when studying abroad?

Indian students abroad may face challenges such as adjusting to different cultural and geopolitical environments. Issues like racism, lack of work permits, or the fear of being deported can also affect students, especially in countries like Canada, the US, and the UK. Geopolitical tensions and increasing competition for jobs add to the complexities.

Why is the job market abroad often more attractive for Indian students?

The job market abroad is often seen as more attractive due to higher salaries, better career growth opportunities, and the absence of reservation policies that can hinder job access in India. Countries like the US and Canada also offer job opportunities in high-demand sectors, making it easier for skilled professionals to find work.

How do scholarships in European and Eastern European countries compare to those in the US or UK?

European countries, especially in Eastern Europe, often offer lower tuition fees, and some offer full scholarships for good students, making education more affordable compared to the US and the UK. In these regions, the cost of living is also typically lower.

What are some of the negative aspects of living abroad for Indian students?

Negative aspects include rising incidents of racism, especially in countries like Canada and the US. Students may also struggle with cultural adaptation and face issues related to immigration policies, job insecurity, and the economic conditions of the host countries.

What is the long-term outlook for Indian students settling abroad versus returning to India?

While many Indian students aim to settle abroad for better opportunities, the long-term outlook may be challenging due to increasing racism, geopolitical tensions, and the declining economies of some Western countries. Economists suggest that India's market is booming, with strong startup growth and career opportunities, making it increasingly attractive for students to return home after gaining international experience.