With the Western Economy having suffered a setback due to the recent economic recession, the focus of business persons has shifted to Asian countries for better economical prospects. While China and Japan are almost at the focal point, India, a fast developing country is not left behind. It is being considered as a new-age land of opportunity in the global economic circles. The country with over 1 billion people was not actually included in the list of major economies of the world. Economically, India was like an island that was cut off from the rest of the world. The changes in the world economy hardly affected India and vice versa till a decade ago. But now, in the last 4 to 5 years, there was rapid improvement in foreign investments in the country which had risen from $100 million in 1991 to $19 billion in 2007-2008. With increasing foreign investments, India has assumed a prominent place in the global economy in the present days. India has seen remarkable industrial growth, intellectual and academic developments, socio-economic improvement and rise in per capita income. India was quite immune to the recent western recession. No wonder, India looks promising enough to be considered the futuristic hub of opportunities.
India Is Now Emerging As A Fertile Land For Professionals
Until the last few years, brain drain was a major challenge that India faced. Better opportunities, work satisfaction and wealth from distant lands eroded the country of its vital intellectual resources. Most college students and professionals left their motherland for greener pastures elsewhere. But now, the scenario is changing fast. Political, ethnic and religious disturbances are making it difficult for Indians to continue their education or get established elsewhere. The western economic recession has deprived many people of job opportunities and also earnings. Many have returned and more want to return home now.
Apart from these discouraging factors in the external environment, the socio-economic improvement in India has served to retain and attract many of its citizens within and from other countries, respectively. The significant advancement in the Information technology sector has made it an integral part of the best business- tech circles of the world. The world is eager to invest in Indian technological ventures. Also, the per capita income and standard of living have risen in recent times. The Indian middle class can now afford commodities of comfort like an air-conditioner or a small car.
In the historic times, though the cast system did play a role in limiting the professional choices, things have taken a U turn. Now, India has become a land of equal opportunity. Members of the formerly-deprived casts, are now being provided admissions in academic institutions and employment through reservation quotas. Even otherwise the boundaries have disappeared and every Indian is free to pursue a profession of his/her liking.
Nowadays, though the craze for a foreign degree or migration remains, particularly to the Western and Gulf countries, a sizeable proportion of the population is considering greener pastures nearer home.
