Indians abroad worried but still positive | india | Hindustan Times
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Indians abroad worried but still positive

india Updated: Nov 30, 2008 17:15 IST

As the miasma of the global economic downturn accelerates its pace, Indians abroad are worried about their future but still remain positive.

"The current situation in the West is not so conducive for the Indians. The slowdown in some of the key industries has organisational downsizing of manpower in the companies," said, Marcel Parker Chairman Ikya Human Capital solutions.

"The options have been reduced by the slowdown. Some of my friends who have been staying here for the past five-six years with their family, for them moving back to India is a big challenge," says Prashant Kumar, software engineer working UK.

"My project has been moved offshore, hence I have to go back to India, luckily the project has not been scrapped," he adds.

But doves of IT professionals are still going abroad.

"Foreign companies outsource their IT work to India as it is cost effective. It works well only when there is steady run of projects. But when projects dry up it becomes more cost effective to send workers abroad to do the work," explains Shubendu Hota, team lead in Global Technology Consultants, currently working in Johannesburg.

But despite the global downturn Indians are the second most confident consumers in the world according to a recent Neilson consumer report on consumer confidence, concerns spending and attitudes to recession.

About 79 per cent of Indians are optimistic about their financial condition for the coming year and 86 per cent feel positive about their job prospects.