More and more expats returning home to earn a living: Experts
There has been an upsurge in hiring of non-resident Indians and expats by companies in the country in the past two years, thanks to improved infrastructure and competitive compensation levels, experts say.business Updated: Mar 22, 2010 14:29 IST
There has been an upsurge in hiring of non-resident Indians and expats by companies in the country in the past two years, thanks to improved infrastructure and competitive compensation levels, experts say.
"In last two years, most of the companies are hiring non-resident Indians (NRIs) and expats because there is an increase in demand for such skilled professionals," executive search firm GlobalHunt India Director Sunil Goel told PTI.
Echoing similar opinion, executive search firm EMA Partners International Managing Partner - India K Sudarshan said: "Over the last few years expats are more than happy to come to India largely because of the fact that Indian companies are globalising, people now want to be part of the India growth story and compensation level is very competitive."
Elaborating the reason behind the surge, Goel said: "Of late, infrastructure in India has improved a lot. Compensation levels have become competitive as per the cost of living and good availability of healthcare and education services are attracting most NRIs to look back at opportunities in their own country."
Besides, the slow recovery of western markets has forced a large pool of NRIs and expats to look for opportunities outside and here India tops the list. Any positive movement towards global recovery will give a boost to a company's operating earnings from India, Goel added.
According to GlobalHunt India those segments which registered the maximum number of expats hiring include — banking and financial services, automobile, infrastructure, pharma and retail.
The appointment of expats in the automobile space has increased nearly three-fold, while, in technology centres of banking and financial services companies, hiring has increased to five to six times.
Giving details, Goel added hiring in infrastructure sector has increased 10 times and for pharma and lifesciences it has increased five times and in the retail and supply chain space it has risen nearly 40 per cent.