{"id":254010,"date":"2023-07-29T20:53:36","date_gmt":"2023-07-29T15:23:36","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=254010"},"modified":"2023-08-31T10:15:55","modified_gmt":"2023-08-31T04:45:55","slug":"turning-the-tide-on-brain-drain","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/turning-the-tide-on-brain-drain\/","title":{"rendered":"Turning the tide on brain drain"},"content":{"rendered":"\n

Source<\/strong>: The post is based on an article\u00a0\u201cTurning the tide on brain drain<\/strong>\u201d published in Business Standard <\/strong>on\u00a029th<\/sup> July 2023<\/strong>.<\/p>\n

Syllabus: <\/strong>GS 2 \u2013 Indian Diaspora<\/strong><\/p>\n

Relevance: <\/strong>reasons behind Indian citizens migrating abroad<\/strong><\/p>\n

News: <\/strong>The article discusses the causes behind Indians going overseas and the actions required to retain them in India.<\/p>\n

What are the key highlights of the data regarding people moving abroad?<\/strong><\/h2>\n

Around 32 million Indians prefer to live in other countries<\/strong>. Around 18 million have gained citizenship abroad, while 14 million are non-resident Indians (NRIs).<\/p>\n

Over half of every batch of Indian Institute of Technology (IIT) graduates end up overseas. Even large corporations are establishing themselves abroad.<\/p>\n

What are the concerns with this migration?<\/strong><\/h2>\n

The 32 million people, which is roughly 2.2 per cent of India\u2019s population, represent a significant opportunity cost for the country.<\/p>\n

Their remittances have contributed to a growth in the GDP of India. However, if they lived and worked here, they might have added several multiples of that to GDP.<\/strong><\/p>\n

There are also young people looking to move abroad every year, whose skills and earning capacity will be lost if the brain drain continues.<\/p>\n

What are the reasons for migration?<\/strong><\/h2>\n

Lack of Opportunity:<\/strong> There is a lack of opportunity in India for highly educated people, businesses, research and for professionals.<\/p>\n

Weakness of Indian passport:<\/strong> Obtaining visas for First World countries is a challenging process for Indian citizens. Hence, there has been a rush for golden visas and for 10-year US visas as alternative options.<\/p>\n

Moreover, Indian passports also leads to difficulties for Indian passport holders in accessing various countries.<\/p>\n

Tax and License Regime:<\/strong> A lot of requirements need to be fulfilled before setting up a business in India. Similarly, managing tax filing and accounting are also challenging in India.<\/p>\n

Further, contractual issues in India are known for their slow resolution, and cross-border transactions add to the complexities.<\/p>\n

Must Read: <\/strong>What are the implications of Emigration of India\u2019s brightest youth?<\/a><\/p>\n

What measures can be adopted to control migration?<\/strong><\/h2>\n

First,<\/strong> India currently has a low ratio of domestic investment in research, both from government budgets and private institutions<\/p>\n

Therefore, there is a need to promote research institutions and high-tech businesses in the country to create opportunities for highly educated individuals in India. There is also a need for relaxing investment rules and providing tax breaks for R&D initiatives.<\/p>\n

Second,<\/strong> simplifying tax processes and paperwork in India would benefit not only new entrepreneurs but also existing businesses already operating within India.<\/p>\n","protected":false},"excerpt":{"rendered":"

Source: The post is based on an article\u00a0\u201cTurning the tide on brain drain\u201d published in Business Standard on\u00a029th July 2023. Syllabus: GS 2 \u2013 Indian Diaspora Relevance: reasons behind Indian citizens migrating abroad News: The article discusses the causes behind Indians going overseas and the actions required to retain them in India. What are the… Continue reading Turning the tide on brain drain<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[10503,212,239,238],"class_list":["post-254010","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-business-standard","tag-gs-paper-2","tag-international-relations","tag-ir","entry"],"jetpack_featured_media_url":"","views":{"total":4,"cached_at":"","cached_date":1698933574},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/254010","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=254010"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/254010\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=254010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=254010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=254010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}