India's brain drain is not unique to the country. It is a perennial issue in emerging or developing markets, given their growing class of educated and aspirational millennials.
NEW DELHI, INDIA - NOVEMBER 5: Crowds of People arrives to board the trains at Anand Vihar Railway Station on November 5, 2024 in New Delhi, India . This report is from this week's CNBC's "Inside India " newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise.
Several entrance tests and interviews later, Raj has yet to secure a well-paying job. Out of desperation, he took on a role as a customer care executive at a global capability center servicing shoppers at. He now draws 22,000 Indian rupees a month — barely enough for his household expenses and to pay off his student loan.
"This slowdown led to an uptick in applications for overseas jobs, as professionals sought stability and growth in international markets," he said, adding that Canada, Australia and the United Arab Emirates were among the top destinations Indians sought opportunities in. " remain highly sought after globally. Their expertise, adaptability, and cost competitiveness make them valuable assets for employers seeking talent in areas like software development, cloud computing, data science, and medical research," he said.India's brain drain is not unique to the country. It is a perennial issue in emerging or developing markets, given their growing class of educated and aspirational millennials.
"India's job crisis has come about because the number of jobs in the country has not risen in tandem with the nation's GDP growth of 5–7% per annum," Ghosh said, adding that the supposed increase in employment per recent data is not from genuine job creation but rather self-employed individuals including those running their own small enterprises or providing unpaid labor in family enterprises.
The economist also flagged gaps in public employment, with government hospitals, schools and railways "having unfilled vacancies for around 7 million roles." Hiring that many more people would translate into better services, the provision of adequate facilities, better education and health care services, Ghosh said.
On a policy level, ORF's Kumar suggested that India offer upskilling initiatives for fresh graduates and those already in the workforce to ensure that they remain relevant to constantly evolving business needs and consumer demands.
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