NRI professionals move back to India
Date: Monday , August 01, 2011
With declining wages abroad, an increasing number of non-resident Indian IT professionals are moving back to India, says a survey. IT and IT-enabled firms in India hired 28 percent more non-resident Indian (NRI) professionals in the first quarter of 2011-12, according to the survey conducted by recruitment consulting firm MyHiringClub.com.
Among 11 surveyed industries, IT and IT-enabled services registered highest growth, with 28 percent increase year-on-year in the first quarter of the current fiscal. It is followed by pharma and healthcare, up by 20 percent, automobile and manufacturing, up by 18 percent, telecom, up by 14 percent, banking and financial services, up by 10 percent and FMCG, up by six percent.
“The high economic growth in India with many good opportunities has fuelled the NRI thought process to head back. In addition to that, many US companies are opening their offices in India and hiring more to target the growing market in Asia,” says Rajesh Kumar, CEO of MyHiringClub.com. An increasing number of high value NRI professional recruitment is likely to take place in the coming years as wage gaps have declined sharply. “Increasing numbers of people are now returning because now the advantages of returning back to India outweigh the disadvantages by far,” adds Kumar.
The highest number of NRIs who returned home found jobs in Bangalore, followed by Mumbai, Delhi and Hyderabad. The NRI professional hiring trend survey, with participation from senior HR professionals and top management of 237 firms and 690 recruitment consultants, was conducted online between the 1st and the 15th of July.